Most $2000 digital SLR cameras will also do HiDef Video these days. And its stunningly good quality. Five years ago you would have spent $10K+ to get the same hi-res quality video. So serious quality output is now in the hands of Joe Bloggs consumer. BUT- This is a double edged sword. While its great that every man and his mum can take stunning quality video and upload it to Youtube to be viewed for free. Its not so great for those who NEED to make a living from their camera work. It de-values professional video and photography chronically.
Stills photographers are finding the same problem. Years ago a pro photographer could make a comfortable living from his work. Nowadays its nearly impossible. The general public (and indeed many media consumers) will accept an average product for free over a high-quality product for a fee.
We (the pro's) no longer have the edge that good equipment gave us. We must rely on our skills using it, and try to promote quality of production over quantity for free.
The more the internet gathers free average-quality clutter, the more the professional will suffer. Good for the consumer, for a while. But in the end the consumer will lose because he will have ONLY home-made stuff to look at.