To be an excellent tool for red, avid needs native redcode support.
Without it its not first class. Needing to transcode is a waste of time.
Your opinion. Which I don't happen to agree with.
Redcode Raw is not an ideal editing codec. Not even close. Having to do significant processing while attaining real time playback from files that are larger than you really want to be using for offline editing is not ideal. Not to mention that certain metadata that is important for later conforming may or may not be available. Avid's approach has always been to create relatively light files that can be played back efficiently and that carry relevant metadata and file naming schemes that is then connected to a database that is specific to the need. What makes editing "first class" is editing features, not direct, real time playback support for every codec ever created and every file format ever created. Doing that creates a lot of problems in terms of media management that Avid has avoided (but Final Cut hasn't). The only time a little bit of transcoding time is really a problem is in a very fast turnaround situation (i.e., shoot in the morning and deliver that night), which is not all that common in the real world of both commercial and entertainment material editing. Personally, I would rather have an editing program that offers all of the editing features needed and more, has very solid and robust media management, and doesn't crash or choke on large projects. And I think I just described Media Composer.