Horses for Courses. We all have different needs. You seem to imply that because you don't need 4444, then no one does. Apparently Apple wasted a lot of time. Apparently Arri did too, including it on it's cameras like that. Sad. Of course DJI was much smarter, only applying it to a small portion of its available formats. Much less wasted time.
Yes, 422hq (you keep referring to it as 422...which doesn't really hold up as well as you imply) does hold up well to multiple generations. But 4444xq gets special designation from Apple first in terms of dynamic range and extensive grading: (from Apples Pro Res White paper)
Apple ProRes 4444 XQ: The highest-quality version of Apple ProRes for 4:4:4:4 image sources (including alpha channels), with a very high data rate to preserve the detail
in high-dynamic-range imagery generated by today’s highest-quality digital image sensors. Apple ProRes 4444 XQ preserves dynamic ranges several times greater than the dynamic range of Rec. 709 imagery—even against the rigors of extreme visual efects processing, in which tone-scale blacks or highlights are stretched signifcantly. Like standard Apple ProRes 4444, this codec supports up to 12 bits per image channel and up to 16 bits for the alpha channel.
and next by a special designation as a "camera original" (422hq is described as a finishing codec)
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And yes, you probably never have put a Micro 4/3 lens on your Alexa.
If you had, you've find that the distortions involved are of a completely different ilk than your super speeds and master primes. (of course Arri says their lenses are distortion free). Micro 4/3 lenses that fit on the x5s are designed with huge distortions and "automatic" corrections in order to make them compact and lightweight. They are different in implementation than the typical modest corrections you see on 35mm still lenses or expensive cine primes (for instance you can't turn them off in photoshop, they are just "there"). I'm sure you'd rather try to fix them in post, but frankly, if I'm shooting to a production codec like 4k ProRes, I'd rather have those corrections applied to an oversampled 5.2k RAW frame during encoding to 4k ProRes than lose quality and time by applying it in post. Even the RAW files from the X5s have "automatic" distortion corrections applied (you can't really turn them off except by processing in Resolve which simply doesn't currently have the ability to recognize them.)
I'm not an expert relative to Alexa. Does it even have the ability to apply lens corrections in camera? Or do you just turn that feature off. Just trying to figure out your statement about lens corrections never being applied in camera. This would make sense shooting in RAW, but in any situation where the image is oversampled and compressed, lens corrections should be applied in camera (as every still camera made does when outputting jpegs -- I realize the video world is a little behind on this...except....
....I own a C300 mark II, which has the ability to apply lens corrections, I leave it on and have never regretted it. It applies EF lens corrections (which are minor compared to M4/3 corrections) to the raw image, and outputs a very nice compact 12bit 444 xf-avc file, which I find to gives me extra quality in grading.
Let me put it this way, AMG. One of the signature features of this new platform was its inclusion of ProRes, both the 422hq and 4444xq versions. I waited for this version of the inspire because I didn't and still don't love the RAW workflow for video (I love RAW's capabilities and the quality is in another league, but I know it's really not ever going to fit into my production workflow except for special cases). You may be happy with shooting 422hq and dealing with the distortions in post and that's fantastic.
But I see it differently. DJI's implementation of this keynote feature is substandard. Right now I'm pretty certain that DJI's flavor of 4444xq in 4k is 10bits or less, meaning that it literally is no better than the 422hq codec, which is troubling, (the reality here is that cinecore probably doesn't have enough power to process 4444 in 12bits in 4k, making the lack of a 2k version 4444 even more glaring) . I find the distortion issue on both ProRes flavors to by hugely problematic for a production (speed) codec like prores. The distortions are so great that you'd "never" not correct them unless you're a skate punk and like 5% barrel distortions (do you know of a single tool that will apply m4/3 corrections to ProRes footage? Tell me how you do it with your x5s shooting 422hq, I'd love to learn.)