These are photo resolution figures, not video. With photo, you always take full resolution then defish.Or ... maybe there is loss.
Here are specs for the Hero 4 Black photo resolution from the Gopro website
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Gopro doesn't have a zoom lens that will fill the sensor at different focal lengths.
The medium setting simply masks the outer part of the image to leave a smaller image in the middle - sort of a digital zoom. This leaves an even smaller image to stretch and crop if you want to remove the fisheye distortion.
Since no-one whats the fisheye effect and they all convert to flat-field anyway, it's a better solution to shoot with a rectilinear wideangle and keep all of the image up from rather than cut it down later.
If you are going to shoot Gopro in medium it's pointless to try to claim that the Gopro has superior image quality.
Ouch .. just saw the cost of a Hero 4 black - add that to the Solo + gimbal and you could buy two P3 Advanced !! Good luck 3DR with that value proposition.
Video is different, the main limiting factor with processing video is the processor speed, so taking video at medium or narrow is sensible as it gives a sharper result with a higher fps.
Time will tell how the Phantom 3 camera stacks up against the Gopro with still pictures, the limiting factor here is likely to be the lens quality on such small cameras.