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Hi sqrrl, welcome to Pentax Forums.
I see you are from Otago, so if you haven't already, head on over to the Kiwi Pentaxians group here:
Kiwi Pentaxians - PentaxForums.com
I fully agree with what you are saying there. In video, the bitrate has a huge amount to do with how much detail the camera is able to capture across the whole frame.
If the camera is mounted to hold it still, and there's not a lot of movement in the scene to begin with, then it has a lot of capability available to record the moving parts clearly.
If the whole scene is moving fast, and the camera is moving as well and adding to this movement, then Pentax cameras tend to exhaust their lower bit rate allowance much more quickly than other brands, who now nearly all offer a much higher bit rate than Pentax do.
If the conditions are right though, then yes, Pentax is still capable of a nice image for sure. I think some are frustrated at the moment though, because Pentax could relatively easily be so much better than they are now.
Other brands, even those who outright proclaimed that they are stills focussed like Olympus and Fuji, have leapt significantly ahead recently, and Pentax still hasn't.
Things like getting the sensor stabilisation and focus peaking to keep working during video, and generally upping the bit rate captured, and providing a clean hdmi output etc would all be hugely rewarding steps for them to take.
I'm for a higher res than you finally want to export at though, be that 2.7k or 4k, because it gives you the ability to frame your shots precisely after the fact (room to crop without loss of detail) and to stabilise footage as well.
I'd prefer Pentax got those basics above sorted first though, as I'm not that interested in a higher resolution version of the same blocky mess during faster movement etc.
Pentax haven't significantly address the video offering in roughly 5 years now, so frankly they're well overdue now.