It is less processed, but TFA points out that it is definitely not RAW, particularly in the section titled "Log is Half Baked."

That'd be 'ProRes RAW', which I don't think an iPhone can shoot in. Log is still processed video, just graded in a flatter profile so you can do more degrees of adjustments in different dimensions like color and exposure.

RAW footage, can barely be called video. Those files don't even have any White Balance and ISO data baked in, just raw data from the sensor, providing even more amount of control in post production, at the expense of working with extremely large files.

Also, just to muddy these waters, Apple has the ProRAW format--which isn't a video format at all, it's a still-picture format.

https://support.apple.com/en-us/HT211965

Comparison of RAW and LOG on the same site: https://prolost.com/blog/rawvslog

No, it's demosaiced[1]. Not raw data.

[1] https://en.wikipedia.org/wiki/Demosaicing

So then why not just use the raw data? Demosaicing triples the number of pixels, so expands the data by 3x.

(Conceptually, the number of pixels remains the same but the result of demosaicing is RGB pixels so what triples is the number of channels.)

I hear it's good to perform demosaicing, denoising and super-resolution in one step, so perhaps that's what's happening here?

EDIT: on the video (section "Log is Half-Baked"), they also mention the processing includes tone mapping, color adjustment and lens distortion correction.

A lossy compressed intra-frame codec such as ProRes 422 HQ still gives a lower bitrate.

The video is still compressed, but the colors are RAW. Sort of.