And, from what little we've seen of HDR+auto tone-mapping on the iPhone, it could be the harbinger not of rampant pyschedelic tone-mapping, but of more reserved and tasteful tone-mapping.
One thing I'm willing to bet on, though, is that this will elicit a lot of criticism from the people who've fallen in love with the limitations of current cinematographic techniques. They'll complain about how you can actually see stuff in shadows, and that the lens flare doesn't do enough to obscure the subject, all without realizing that this advance merely makes those things optional.