Sounds like a lesser version of what Fuji did over 15 years ago:
Sure, it's nice to have both pixels in a single pixel area instead of a hex grid, but not having a larger pixel for sensitivity means you're not getting the full potential of the system. Fuji's old Super CCD sensor had similar noise to what was already available, plus superior DR from the extended highlight range (+2-3 stops) that gives even current cameras a run for their money at pixel level.
No Log or video shutter speed control, no care. Hero5 it is.
Honestly, at this point, why are people so surprised at Canon's intentional gimping and lack of progress/innovation?
MJPEG is quite old, and very inefficient in compressing vs H.264. It compresses each frame individually, vs compressing based on the content of the frames before/after. Bitrate isn't always an accurate way to determine quality.