yes, good IQ is important, and better IQ is even nicer.
But we've gotten to "good enough" now. Everything else is gravy.
Now, we've got IQ that looks so nice that it doesn't distract you from the story.
Sure, if Red releases something that knocks everyone's socks off in the prosumer range, that's great.
But you don't need RAW and 4:2:2 to make good stories that suck the audience in. You have the IQ that will do that right now.
It used to be a monumental struggle to get the IQ. Now it isn't. Now everyone can shoot pretty footage. A little bit prettier won't make that much difference to the average person that isn't a videophile, and just likes to watch movies.
The real problem isn't a few jaggies in some venetian blinds. The real problem is if you give 9 out of 10 people a good camera, they can't make a good story with it that's interesting enough to make you not pay attention to the venetian blinds, or watch the film long enough to get to the shot with the venetian blinds.
One of my favorite movies is Forbidden Planet. It was released in 1956. I rarely see a sci fi flick that good, even with all the new CGI special effects that didn't exist back then.