Is this essentially RAW at 24-60fps?
RAW footage, can barely be called video. Those files don't even have any White Balance and ISO data baked in, just raw data from the sensor, providing even more amount of control in post production, at the expense of working with extremely large files.
I hear it's good to perform demosaicing, denoising and super-resolution in one step, so perhaps that's what's happening here?
EDIT: on the video (section "Log is Half-Baked"), they also mention the processing includes tone mapping, color adjustment and lens distortion correction.