Cary Knoop
Veteran
It's a big plus because it is compatible.It's V-LOG L, not V-LOG, and in that important distinction lies your answer. The GH5 records up to 12 stops of DR. Varicams record up to 14. In order to use the same curve for both (god knows why this matters) the V-LOG L signal fits in the bottom 12 stops.
For instance DaVinci RCM and ACES have built-in input transforms for V-LOG (both gamma and gamut) which can now be used for the GH5 as well!
Two questions to find out (I do not have a GH5 yet) is if the GH5 uses V-Gamut or Rec709 in its log implementation and if it correctly set for video levels (as opposed to data levels).