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I can assure you they were not the first camcorder. There were a variety of other portapack and tape based shoulder units before it.
Technology Connections on Youtube has a great video on it, however I've always found him to be a bit....tacky? classy? Something about how he does his videos just seems too polished. Anyways he dwells pretty hard into the shortcomings of a camera that was in the low end of the market. It's record-only, the viewfinder is split-prism and it uses nonstandard battery packs that you cannot buy anymore.
I have one myself and it's quirky. I am reminded of those disposable film cameras where there's a lot of guessing to how your video is going to turn out.
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