I know of one film that was shot entirely on Canon 5D and 7D. It is feature length and has screened at a good number of festivals: currently hoping for a run at Sundance.
The people involved tell me this is not at all unusual for low budget films, but I'm not personally able to vouch for that.
On the other hand I have a lot of sympathy for anyone forced to watch an amateur video: with stills, I can always click rapidly past the less interesting shots.
Then again, if you look on youtube there are now amateurs making very well constructed short films. Give them a 5D and they'd be capable of making something very watchable in a cinema. There remains the usual problem of the people who are not good at what they do thinking they are brilliant
It also occurs to me that the 70's fashion photography ethos of shooting fascinating photos and hoping that the clothes managed to be visible enough that the client still pays the bill has survived through to video, despite the vastly higher production costs.
Check this out and tell me wtf it has to do with perfume:
https://www.youtube.com/watch?v=ABz2m0olmPgThen again, advertising a perfume via sound and vision necessarily obliges lateral thinking, no?