I question if it’s RAW at all or just data with more editable ability.
That’s going to be the big question. “RAW” is a term that has meaning for photographers. While there are several different RAW formats (usually tied to a camera brand (i.e. .NEF, .ARW, .DNG etc.)) they all imply a file that includes sensor-level data. There can be compressed or uncompressed data. The compression can be lossy or lossless. But the file should represent what the sensor recorded at the time of capture.
With Apple’s computational photography that makes use of multiple images, I’m not sure what a RAW file would look like in the traditional sense. Are you going to be able to edit the individual files that make up the stack? Is it going to be a merged file, but give you more control than you would otherwise have with a JPEG? How big are these files going to be?
From a marketing standpoint, calling it ProRAW could cause problems if it isn’t really a RAW file in the generally accepted sense.
On the other hand, it could still be a useful file format if it allows more manipulation in post while maintaining/improving image quality compared to a standard JPEG file out of the iPhone. Better still if it provides superior final images than could be obtained in post with a single actual RAW image from the iPhone (i.e. if working with a hypothetical “merged” RAW file from several pics taken in quick succession will be superior in important ways to working with a single iPhone image captured in actual RAW from a third party camera app).
So many questions. Time will tell.