For shooting stills, it isn't. And, it will be much more expensive for similar resolution than MFDB. I'm still trying to understand why some people seem to be going crazy and predicting the end of MF digital.
you can personally dislike the thought of a hybrid camera that shoots video and stills, but in regards to red as a company and the product they have produced to date you can't dismiss them. red seems to be well funded and has delivered something that in the cinema world their film competitors haven't. don't underestimate the word "delivered".
you also can't dismiss the fact that they have come at the industry with a different mindset, working direct with customers rather than through the traditional distributor-dealer-customer system.
if any medium format company had sold as many top end complete systems as red has in the past year, there would be dozens of press releases and dancing on the roofs in Denmark, Switzerland, Sweden and Israel.
every photographer probably should take a hard look at the way the images for commerce industry is going. A few years ago a 22mpx still camera back (sans body and lenses) went for $30,000 (U.S.), now with nikon, sony and canon's recent cameras, that price for 22 mpx varies from $3,000 to $7,000.
it's not that current medium format cameras are bad or don't fit a niche, but since they seem to be rooted in the same high megapixel, low iso still capture only catagory, that niche stands a good chance of becoming smaller.
red has also looked at the image making industry in a very non traditional manner. first they produced a equivalent digital cinema camera, next planned is a series of hybrids that cover still and motion. what is amazing is they have done this starting with a clean sheet of paper, not caught in the traditional trappings of film cameras, other than lens mount, which in many ways makes the red the ultimate open source system.
since new york is the mecca for all commerce, talk to any rental house or studio and ask them how many medium format backs they rent today vs. a year ago, (or for that matter just ask them how business is in general) . just read these forums and see how someone like t-mark's business has grown by offering motion imagery through the red and step back and ask yourself this question.
if you were going to invest $40,000 today on a high end imaging system would you continue with a stills only medium format back and camera.
for you, probably so because you are obviously brand and product centric, but for many photographers the prospects of a stills only world (especially a low iso, slow to work still camera system) the prospects are looking more limited by the day. for the same photographers saying they will only use one brand of camera, one format, regardless of the genre would be economic and artistic suicide.
you just don't have to look too far to understand that even prior to the current economic challenges, traditional media (print and broadcast) has been hit hard by computer use and the computer is the supreme medium for interactivity.
by all reports print and broadcast advertising is down while interactive advertising is still showing growth.
you also don't have to look far to see some form of motion and interactive images on just about any major merchandisers web site, in store, or on the street. 4 years ago times square was the place for huge moving imagery flashing by in real time and today, every city has it.
some photographers are finally going to realize that they are image makers (and business people as well as artists) and use cameras like the red and the 5dII as a way to expand their vision and their reach. that's the plan of any business, large or small.
others are going to stay in their current segment and not be affected by any technological change. for a few this will work, for most it wont'.
if your annie, working on projects where the styling budget alone is in the large 6 figure range your probably good staying with stills. for the mere mortals, you will probably have to plan your equipment investments wisely and not look at what they can do for you today, but what you can offer tomorrow, turning a blind eye to the traditional format, or name on the camera.