innovative camera: what does this tell us about customer experience megatrends?

Concept Camera: The WVIL from Artefact on Vimeo.

I'm a tech junkie but don't take this post as the ravings of someone who loves shiny, expensive toys. Instead, look at the video and answer these questions:

1. Why do cameras matter? In the US? In Japan? For young people? For older people?

2. Why are camera and phone manufacturers caught in the competitive spiral of increased megapixels, video formats, and miniaturization?

3. Compare a great photo with a great piece of video. How easy is it to take a great photo compared to telling an awesome, compelling story in video?

4. What huge gap do such cameras create in the market?

5. Who will fill that gap?

If your answers don't include things like, audio, color correction, format transcoding, cloud storage, intuitive editing, collaborative production, flexible workflow, story-driven product, sharing, emotion, social networks, and terabytes, then keep at it! 

Oh, and I suppose the answers may include Apple.