While I love my Paralenz (and their HQ is walking distance from my home) I am a bit skeptical about 4K HDR in this price range. I am really curious if they can pull it off as something that makes a difference vs. the good ol' Paralenz. I think it will have more to do with limiting exposure issues in cases like exiting wreck (dark) to the sea (very bright), where now you have one of part of the scene over/underexposed than achieving the "true" HDR vibrant colors that people would love to see (which is, I am guessing, beyond the HW limits of the camera)
It depends what market they're really aimiing at user wise.
My old camera before it died, was a G15 it did everything I wanted it to and I especially loved that I could one touch adjust the white balance. But it was big and bulky in its housing (for us)
We have a Go Pro 7 - its okay but nothing special, and suffers from the old issues under water, requiring filters etc. We're not they type of people who are interested in putting together all our clips into a smart video with colour grading etc -we have neither the time, patience or interest. Our intent is to grab a few nice clips suitable for say a 1 min social media post.
The normal drawback is colour in poorer vis. As digital tools get better it will be easier. I guess what I'm saying is there cannot be one tool for all. Part of me wants a black magic but I know that it'd be a waste because I'd do nothing with the footage - so a quick easy tool that grabs a decent image of something special is what I'm looking for - others will have different requirements and I'm sure that there are cameras that better suit their needs and desires