It inevitably attracts naysayers but I believe the C100 is still a strong choice for a young filmmaker's first "serious" camera if they want to develop their visual storytelling skills, with some advantages over a similarly priced mirrorless model.
You sacrifice 4K, 10-bit and high frames in exchange for an extremely reliable camera with killer battery life, no overheating, awesome menus, built-in ND, built-in XLR, and other quality-of-life features that let you focus more on honing your craft on set. Plus it looks professional to impress your friends into thinking you know what you're doing when you're trying to convince them to act for free.
C100M2 is the only thing in its price range that gives you camcorder form factor, built-in ND, built-in XLR, great low light performance, super 35 sensor, great battery life, great color science, and solid workhorse reliability. That combo can make it the perfect tool for some jobs.
People need to stop expecting sub-$10K cameras to have zero compromises or weaknesses.
I'm paraphrasing here but Jackie Chan once said something along the lines of "If you don't get the shot because you're tired or it's raining, do you go to every theater and tell the audience that? No, the movie itself has to live forever."
In other words, I don't think it's fair to give an Oscar for editing to this movie just because the editor did a good job salvaging a mess. An award like that should go to a movie that, in a vacuum, showcases exemplary editing that contributes something to the overall art of filmmaking.
Steve Yedlin's tests pretty thoroughly prove otherwise. 2K upsampled to 4K is indistinguishable from 6K downsampled to 4K from any reasonable viewing distance.
I'm planning on saving up for a "real" camera now that I'm out of college and the C100MKII is kind of at the top of my list right now. The cost and inconvenience of external power, external ND, media, a speedbooster and rigging solutions for something like a BMPCC4K is unattractive compared to the plug 'n play nature of a solid, all-in-one camcorder like I used in school for ENG and short docs.
I'm still not sold on shooting feature films on phones. Yeah the image is nice but you're stuck with a suuuuuper wide angle and a huge DOF on every single shot. It's a big limitation to work around and a lot of shots in this trailer just look off, especially the close-ups.
DSLRs and DOF adapters were a big deal for indies because you finally got a big choice of lenses on a consumer camera. This feels like a step backwards from that.