The long context length is of course incredible, but I'm more shocked that the Pro model is now on par with Ultra (~GPT-4, at least the original release). That implies when they release 1.5 Ultra, we'll finally have a GPT-4 killer. And assuming that 1.5 Pro is priced similarly to the current Pro, that's a 4x price advantage per-token.
Not surprising that OpenAI shipped a blog post today about their video generation — I think they're feeling considerable heat right now.