Weighing in at 1.8lbs less than the Sony PXW-FS7 and having a significantly smaller body, the new Sony PXW-FS5 is a cheaper FS7 alternative and direct competitor for the Blackmagic Ursa-Mini given Sony’s $5,599 price tag.
There are disadvantages to this camera over the FS7, including around codecs and color-space but there should be a raw output version available in the future.
The variable built-in ND filter is a nice touch, and the use of SD cards cuts down on costs although adds some limitations. Dynamic range is said to be 14 stops but 4K is at 8 bit 4:2:0 and up to 30FPS.