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Okay, define "substantial". Be specific. And also be specific about why your definition of substantial is correct. You'd THEN have to show, through numbers, that ditching these events would be worth it to the brand, the bottom line, etc.
Apple only does these types of events a few times a year, and people listen. They make memes. Youtubers make videos about them, it spreads through WoM and Social Media. Even when they announced the M2Max chips in a glorified press release that STILL got way more attention than their competitors by a country mile.
When was the last time NVIDIA, Microsoft, Meta, AMD, Google made a splash outside of hardcore IT/gaming nerds?
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The geek side of me wants to see how crazy the editing timeline is in (presumably) Final Cut Pro before these are exported.
Sometimes I'll rewatch the events and be like "Yup, those ten seconds definitely had 17 layers in FCPX" and I'd be trying to analyze exactly how the edit is done BTS, lol. There were some shots during the Vision Pro announcement where I was like "whatever they're paying the poor bastard who had to edit this, it's not enough."