That is an amazing price. It is an amazing camera. There are some things to think about before upgrading, but at $500 it’s a lot more tempting.
I wrote a while back about my recent change in camera approach. And I’m still committed to renting better gear than I can buy. But it is very tempting to upgrade my EOS M to the BMPCC.
Of course the $500 isn’t really the true price. You would need a lens adapter or two. And the camera requires very fast cards, and lots of batteries. Apparently normal ND filters don’t work. So you are looking at more like $700.
But the big cost comes when you look at the crop factor of the BMPCC sensor. It’s 2.88x. That means that your “wide” angle 28mm that you use with your full frame or APS-C sensor body now is the equivalent of an 81mm lens. A nifty 50mm is like a 144mm lens. Plus, inexpensive adapters don’t allow for electronic changes in aperture. So your modern EF lenses (for example) are wide open.
In order to use the BMPCC in most settings you will need to buy new lenses. These would either be MFT mount wide angles or vintage manual wide angle lenses you adapt to the body, but these will almost all be longer than you want or insanely expensive. The Panasonic 20mm f1.7 is well thought of, and delivers an equivalent 58mm for about $150 used. The slightly wider, but slower and softer, 14mm (40mm equivalent) f2.5 will set you back $180.
With just one basic lens you are back up to almost $900 for the BMPCC. It does make pretty video, though.