For what I need in a camera, which I detailed earlier, both would do the job, with the only real bummer being the loss of the slow-motion (120-150 fps).If Scarlet was priced at $2000 they would be at the same market.
And yes, it would eat into Scarlet market because Scarlet is not here yet.
I think the feature-set alone sets these two cameras far apart.
I still would prefer the Scarlet, and my budget is more or less whatever I need it to be, within reason, but this Sony actually has a street date and does everything I would personally need it to do, except for the slow-motion (and even that, I can use JES Deinterlacer to turn 60i into 60P, then slow it down, so it's not the end of the world).
And I'm betting there will be many more cameras in this line of Sony's coming out within a relatively short period of time with things like slow-motion and the like.
Like I said, I want to go with the Red, but depending on the release dates, what I can't afford is to wait through this off-season (from approximately Sept through Dec) and still not have the camera for what I need. The Sony comes out in September, but if before then, for example, Red tells us they're releasing the Scarlet in October or even November, I may wait. But if there is no announcement before that, I may be forced to buy the Sony.
And regarding the budget markets, I think there are a lot of people out there who simply want a value, so the actual dollar amount isn't that big of a deal. I can't afford to spend $15-20k on this, but I can afford quite a bit if I see the value in it.
Comparing the two, though, for my use, the only thing I really lose is the slow-motion, so the extra 3k for the Scarlet, that makes it easier to see the value in going with the 2k cam. Even then, as I said, I don't want to. I want the Scarlet. But the best camera is the one you can use, right?