Jinni.Tech, a former supplier of alternative storage media for RED cameras, has after a long time published a sixth part of his Youtube video series, in which he has so far produced numerous 
accusations against RED's market birth and the video patents used for it.
This time he goes directly after the REDCODE codec and shows that in practice it is "just" a JPG2000 codec wrapped in Quicktime. The only difference to other JPEG 2000 codecs is the way the codec is fed without debayering (which the codec originally expects as input).
RED itself described in the lawsuit against Apple just the feed "without debayering" as the real invention (as well as the storage in a log format aká pre-emphasis).
In the video, Jinni.Tech then not only explains the simple weighting of the color pixels in REDCODE RAW, but also proves that David Newman of Cineform (now at GoPro) had already practically used and marketed both ideas in their products before RED was founded. Among others, even in the SI-2K camera from Silicon Imaging.
Silicon Imaging's SI-2K camera was capable of compressed RAW recording before RED.
;)