It's amazing that a show that'll be watched by millions can be produced on a few thousand dollars worth of equipment. It brings the barrier to entry
way down. It's still gonna cost upwards of $100,000 per episode, even for a very low budget small-scale thing, due to crew, locations, sets, insurance, etc. But, it's a really interesting time for television and film production.
It's also interesting how in charge of this trend Netflix is; they're right out front (Amazon is doing interesting things too, with their pilot voting feature). They're providing the formula for how to make shows for Netflix (which would probably be acceptable across the board at Amazon and whoever else is doing original programming at this level and on this scale).
I really like this kind of openness about technical requirements, because it feels like an open invitation to make things. This, more than any hand-wavey "There's more opportunity for small productions than ever before!" kind of statements feels like an actionable piece of knowledge and a part of any business plan that involves making content for this new market. Democratizing that knowledge by posting it on the web is super cool. It seems small, I guess, but it's a cool indicator of where the market is going.
If I were fresh out of film school, or currently working at a production company, I'd be looking at that and thinking, "I bet I could raise the money I need to put together a pilot to these specifications." You'd still have to put all the pieces together to make a good show/film like you always have, but the technical side of it looks really achievable today in a way that it never has.