Is an upgrade worth it for me? Hero 4 vs 7

[ReefHound]

Objectively, the stabilization on the 7 is really on another level compared to the 6.

This is certainly true for all of the video models that support HEVC only. However, you can still use H.264 for 4K30, 2.7K60 and 1080p120. You can also transcode any video mode from HEVC to H.264 using a third-party app such as Handbrake if you really want to use 4K60 or 1080p240 and your NLE can handle it.

They say this every release. I would call the difference "marginal" not "significant".

Yes, I transcode HEVC to H.264 all the time. The point was the user needs to know there may be an additional step in the workflow process. Many users don't want to do any post-processing at all.