I have to disagree with you brotha! Not based on advertising, or based on the fact that I'm biased because I own one. I've really seen a lot of GoPro footage that has REALLY impressed me! There are people that take their footage straight from the camera and put it on Youtube totally unedited and with that stuff, I don't disagree, it's so so.. but I don't think it's the quality of the video that's to blame. It's the lack of creativity.

Check out my buddy Mitch's video here, for example. He's just screwing around and filming inside the Architects Of Air

http://www.youtube.com/watch?v=mzD07NGVwK4 Check out his channel for other examples. If everything in the video is a static mounted camera on the side of a car and that's all you see for 4 minutes, I totally agree, but I think you're only limited by your imagination as to how professional you can make any sort of footage--GoPro or otherwise. I'm a newb, but I've been learning a lot and hope to have some things worth showing off soon.

Never the less, my next big purchase is going to be a vDSLR most likely. I've come to realize this is something I'm really interested in as a hobby and possibly more.