As a result the Rebel line is now dead for video and the 650D does nothing to change that.
There are several rival cameras which are better equipped at the same price point. The GH2 (with or without the hack) has the image quality advantage. Olympus with the OM-D E-M5 has the better stabiliser, faster AF and a punchier image (certainly consumers would be better off with that than the 650D, as would documentary run & gun filmmakers). The NEX 7 and NEX 5N has peaking and a APS-C sized sensor in a mirrorless body plus slow mo in 1080/60p. So there’s ZERO reason to shoot video on a Rebel.
Unlike the GH2, a NEX is probably a better option if you have a LOT of Canon EFS glass from a previous 550D or 600D. These can be used with the Metabones adapter with electronic aperture control, with a few exceptions. The GH2 can use Canon FD glass and plenty of other notable brands (Nikon, Leica M, Contax Zeiss), including an extensive range of video optimised lenses from Panasonic and Olympus. There’s also speciality glass like the Voigtlander Nokton 25mm F0.95 which overcomes the slightly smaller sensor and gives you an even shallower DOF and is 4 stops brighter than the brightest EFS lens (F2.8).