Thats all great, but pretty much a waste if you cant go out with a 1080 4:4:4 signal (dual link) which is not possible from RED. LTO-4 makes a lot more sense, especially since you retain the RAW 4K files.
Have you ever worked in network (or even cable) television that you would make such a statement? Why would an HDCam SR master be a "waste", regardless of whether it is 4:2:2 or 4:4:4? It's the most common delivery element used today - not to mention that it's likely the most popular archival format as well - and especially for a reality show, why would you ever need anything better? Who cares about a format you can't even distribute today (4K) when you're talking about a television reality show? What kind of shelf life do you think these things really have, and what makes you think that image quality plays any significant role in that?