Definitely aspiring film makers don't need 8K. But that's my point: 8K raw is the only codec that works sort-of smoothly in the NLEs. The more "reasonable" 4K and HD resolutions are nearly impossible to edit because of the codec (HEVC All-i). I hope you're right and the NLEs (or Canon) make changes so that editing the R5 footage is practical without transcoding or using proxies.
Yes, what a disappointing piece of news! This camera will be basically useless for the aspiring filmmaker if he needs a totally specced out professional desktop computer just to do basic edits. It appears that so far 8K raw in a 4K timeline is the only codec that somewhat plays smoothly in the major NLEs, which isn't a bad thing, except for the fact that now the camera gets limited to about 20 minutes of record time before overheating. And that's without color correction or any other modifications in the NLE.
Maybe some commentary on the different bitrates for the different shooting modes (8K, 4K, High Quality 4K, etc.), so we have an idea about how much storage media we're going to need (i.e. what size cards to buy for our purposes). This will also depend on the quality of the different modes, like if one mode is crap then the bitrate won't matter since we won't use it).
Also, how well the H265 codec plays with different softwares, namely Davinci Resolve and FCPX.
I had the same idea because the color editing tools in Davinci Resolve are really good. So I tried to edit Canon raw photos in DR, and was overall impressed with the look I could get. Unfortunately there was a huge lag between the changes I made and their updates in the viewer. So, in the end, it wasn't a practical way to work with photos. Maybe the program (and my computer) is just not optimized for the high megapixel photo-editing work. I don't know. I went back to using Affinity Photo.
I'm glad someone's not replacing their GH5, since I still have a mind to get one for all of its user-friendly functionality (battery life, weather proofing, flip screen, small size, etc.). But I think a lot about that new BMPCC since I love my original BMPCC, but the more I think about it, the more I consider the practical consequences. I'm not a professional movie maker so, while I want the best picture with the most awesome codec that goes with FCPX, I also have to tone myself down and realize that what I create is not going to go to the big screen, or be anywhere close to the cheapest of indie films (not yet at least, but maybe one day!). The end result of having the new BMPCC then would be MUCH larger storage needs, expensive media cards, and slowed editing due to the huge files. You gotta ask if that's worth it. Of course it's not, but what makes rational sense doesn't always guide what I want, or get ;)
And, by the way, 110 MB/second for ProRes HQ? Is that correct as stated on the BlackMagic website? The original BMPCC runs around 25 MB/s for ProRes HQ and needs a pretty fast 64GB SD card for 41 minutes of record time. That same card isn't even fast enough for the GH5, which clocks at 50 MB/s (4x LESS than the stated BMPCC 4K rate). Is there even an SD card fast enough to record 110 MB/second?