I'm no expert, but just because it's used by professionals doesn't mean it's not a vanity brand. See Monster Cables and Beats by Dre.
http://www.red.com/news/profiling-the-technology-of-the-hobb...
I only learned about RED after all the hype with their first digital cameras (that all the studios were helping to hype)
When it comes to cinematographers, the best tool is what they use. There's no choosing a camera because you look cool next to it...
Now there are cameras that have all or most of the features of RED, but more elegantly designed. The RED is kind of like a small PC that you can mount a lens to.