I found an interview with the person who shot the under-water sections of a GoPro promo video (IIRC it was for the Hero 3 or 3+), and the level of effort they put into it was simply incredible. He had a team of about 5, three crew and two cast, and they had a week for production. He was an independent DOP and had done some pre-production as part of his 'pitch' to GoPro to get the gig, but I think they did detailed pre during the week as well as camera tests and lots and lots of shooting.
This was only for the underwater shots (the bikini girl diving beneath the waves). If we assume that each of the (maybe half a dozen?) locations each got 5 people for a week, then that's ~7500 hours just to film the 1-2 minute promo video. The level of cherry-picking is extreme - professional DOPs pitching projects, travel to the most exotic locations, testing of all modes with all manner of equipment, everyone in cast and crew are professionals, long shooting days at the best times (golden hour, etc), dozens of hours of footage just to make a short promo. Then people set it to auto, hold the tiny camera in their hand and film their family at the beach with whatever lighting and weather happens to be there at the time and then we wonder why it doesn't look like the promo videos...
Having said all that, if GoPro make an interchangeable lens camera with a half-decent bitrate and a colour-managed LOG profile then it might be the tiny camera we've been wanting!