In practice, video is done by using the HDMI output of the camera which will spit out continous 4k output without the 30 min limit, and without all the issues of needing to flush this to CFe/SD/XQD cards. You then caputre it on either a laptop or stand alone video capture device which will have functionally limitless storage. The sensor and processing engine is still running the whole time though, which means the camera needs to be specced to handle this (and they are). The only limitation is that you can't record to the internal storage, and as explained that doesn't matter.
Either your thermal solution can remove the heat of your CPU going at full power, or it can't. And if it can't it'll hit the limits in 5 minutes not 30 minutes, unless it's a huge water-cooling system or something like that.
The main exception here is batteries - but lots of fancy cameras offer things like battery grips for people who want to shoot for hours on end.
I expect the answer is all of the above and more.