Ryan E. Walters
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In the past one needed an external light meter because there was no other way to know what the "film is seeing" grainwise. But, in case of Red One that's what the camera meters basically tell precisely; The camera can tell what "the sensor is seeing" pixelwise, and so in this sense there is no need/use for external light meter.
For setting the final exposure on the lens, sure I agree. The on camera tools give you a reliable way to tell what the camera is actually seeing / recording.
But, I do not agree that a meter is no longer needed. As I've mentioned previously, and others have commented they are still needed for setting ratios, keeping things consistent, prelighting, location scouting, etc.