We love Canon for taking a positive stand with Magic Lantern (in fact, we would not be surprised if when the entire ML story unfolds, it would be Canon who either funded or heavily tipped the custom firmware team)
It’s not that Canon cameras takes bad video, but with Magic Lantern, the footage is unarguably better. The well known hack, is an open source project that is available as a third party add-on for certain Canon camera models. Filmmakers consider Magic Lantern essential and many still photographers utilize it as well. It delivers photographers full control over bitrate and framerate, while providing the option for custom bulb timers, bracketing for exposure, and more. It basically fills in all the gaps left by, what some may consider, underwhelming Canon firmware.