Good post.
To clarify I was comparing RAW Linear with compressed Log in the context of ETTR vs exposing for middle grey. ETTR is a great strategy if you're using Linear RAW and don't mind compensating for the level changes in post.
The Alexa is a bit special in this way (I believe) as it can output Log in very high-bitrate 12-bit 444, compared to (say) the GH5 200-400Mbps 10-bit 422 log, so the Alexa has an enormous amount more latitude just because of the codec. It's also special in the sense the readout from the sensor is a higher bit depth than the Log codec. On a camera with a 12-bit sensor output, if that was transformed into a 12-bit Log profile then the highlights would lose the effective bit-depth they had when in Linear, but the other stops wouldn't really benefit much because although the 12-bit log has better bit-depth for the lower stops, the limitation would always be the bit-depth from the Linear readout.
Regardless, having a 12-bit sensor readout converted to a 10-bit log profile in-camera is probably good enough for almost all applications - I've tried to break the 10-bit HLG on the GH5 by applying curves that were severe beyond reason and the image held up.
Of course, the thing missing from most consumer cameras is a decent codec, like Prores HQ or 4444. I'm really looking forward to the GH6 update to see how the 1080p Prores looks. Unfortunately most cameras have really weak internal h264/5 implementations and the in-camera downscaling is often very poor. I suspect the push towards RAW in this segment is partly a way to deliver better image quality without having to design cameras that can scale and compress properly or having to buy a Prores license. Unfortunately it then means they run into the challenges around internal compressed RAW and so we end up with tiny cameras needing an SSD or external recorder strapped to them. Hardly ideal.