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Regardless of the paraphernalia and excitement around an event such as this, in the end NAB simply announced that whereas several years ago high resolution data on a par with photo-chemical film was almost impossible to achieve on many different levels (light response and rendition in a filmic way, the ability to record the signal without massively compressing the data - all of that stuff) right now we can surpass the level of quality of film. By that I mean that the resolution is higher in both capture and display and with the advent of High Dynamic Range Capture and Display we can surpass the rendition of what the eye sees with Digital Cinematography in a way that is higher on all counts than with Film. It has helped that finally CMOS chips have caught up with CCD's in development.
Forget the arguments about whether film does a different thing (which of course it does): on a technical level the argument is over.
That is a big statement - When I came upon HD around the early nineties, that was an impossible thing to imagine.