Hi Mark-
I think Red will spur healthy competition across the industry, which gives us all something to look forward to.
-Noah
(And just for the record I am not 'from Panasonic.' I happen to own some of their cameras and work as a freelancer, demonstrating post-production workflows for Panasonic at NAB.
They're nice people who are my friends. Same goes for the folks at Red. So, my comments are from a third party with nothing to gain other than a wider choice of equipment to shoot my own stuff on and of course, more workflows to figure out in post.)