I wish my Nikon pro camera had a similar chip inside. Now we have two worlds - awesome pro cameras with incapable post-processing chips (I mean beyond RAW and initial processing) and horrible mobile cameras with outstanding post-processing chips.
If you have burst mode and can get the raw frames, then shouldn't you be able to recreate the effect in post-processing? With the severe power constraints of a mobile phone a co-processor makes sense, but I'd think a general purpose desktop processor could easily handle this algorithm.
If you can, you might be able to postprocess it... But as far as I know, no DSLR cameras even have gyros, nor sufficiently high burst rates, so that kind of photography is out of the question.
It comes out to over a gigabyte of data per image... and you can't compress it before processing...