I think the Alexa system makes a lot of sense. Sure the ProRes HQ option does not speak well to many of us in terms of getting the most quality out of the system. On the other hand, I know projects that have been mastered straight from RED proxys.
In fact, I could name you (I won't, but I could) at least 5 major network television shows that are posted and delivered completely from either DNxHD (in at least 2 cases, DNxHD115) or ProRes files. And one of them is a show that was shot primarily on Red. The notion that RAW or 4K are necessary or even desirable for productions such as television series is simply not borne out by the facts.