Why do you think the blending won't work?It has three modes to extend dynamic range:
1. high frame rates blended into lower frame rates (like shooting 24 fps actually at 72 fps)
2. different exposures for even and odd pixels
3. piecewise linear response
It is the third one, the piecewise linear response, that sounds most promising to me (albeit not an expert)...
If a sensor can do 48 fps - and a lot of sensors won't do that at full resolution - then it looks like a gimme. Even with an alternating res blending - let's say, 4K for even frames and 2.5K for odd frames - it should be visually indistinguishable.
