If you watched it on a screen four times as big from the same distance, sure. But that's usually not the case.

I'm with you @nickr. Higher for sure would be better. At least for my own selfish needs. GH4 is my main aerial rig. And nothing stresses a codec like high motion, wide to medium wide shots with lots of detail. But I gotta agree with @Scot in that the implementation is pretty damn good. It's extremely rare that I've seen the codec start to fall apart due to bitrate. Of course heavy grading will expose the limitation. But I've yet to personally shoot with anything else that can record 4K in camera at this price range with this quality. I've had limited hands on time flying with FS700 4K and FS7 4K. Both have different challenges rigging for aerial. They're amazing (especially FS7) and a step up for sure. But not without their own tradeoffs and not nearly in the same price range (i.e. client budgets).