Large sensors don't get cheaper (they don't benefit from Moore's Law), so maybe not. However, APS-format still cameras that shoot video aren't that expensive (<$2,000) and are constantly improving.
Scarlet was originally supposed to be a 3K sensor for $3k. After a while, there were comments that $3k was no longer going to happen because of costs and feature set, and it got upped to about $5k.
A few weeks ago, the entry-level Scarlet with a 7x fixed lens was canned altogether. Red is instead focusing on providing a solid "professional" camera. Their Scarlets now use sensors that didn't make the performance cut for their top-of-the-line model, the Epic.
Yeah - that was a pretty sorry tale of vapourware. I know a couple of indie guys who were super jazzed about the Scarlet, and delayed buying equipment because they were convinced it would come out.
It was hard to tell whether it was vapourware. They had defied expectations in actually producing a real camera in the Red One, but they also had marketing material advertising a sensor that was something like 17cm wide - which seems to me utterly unmanufacturable today.
