This is very big news - RAW video from a $3300 hybrid still/video camera body. If Magic Lantern can turn this into production software and releases it for free, it is a real game-changer.
First, it undermines the price of the $12,000 Canon 1D C Cinema EOS camera. If this free software upgrade becomes widely available for the 5D Mark III, Canon 1D C sales will likely dry up.
Second, it threatens the use-case for the 2.5K RAW $2995 Blackmagic Cinema Camera, which is yet to ship in large numbers.
The question becomes, would you rather buy a $3299 full frame Canon Mark III still/video camera that is in stock right now and upgrade it to RAW with free software - or would you rather order a $2995 video-only RAW Blackmagic Cinema Camera with a micro 4/3 sized sensor that might ship sometime in the next few months?
I know what I would do.