Sure you can. GoPro in particular pays their staff of specialists to crank out content 365 days a year exclusively with their cameras, and they've produced plenty of amazing images... in fact, their filters straight up crush it.
Putting Action Cam's in the hands of the Finalists sure does level the playing field and we'll stand by that claim. It's going to force each and every one of them to think outside the box and use their skills to differentiate themselves from the rest of the pack. Even a POV cam with limited controls has the ability to produce amazing images in the right hands. We're hoping and expecting that there will be some serious competition for those finalist spots, and if there is we're pretty certain that just about all of them will be able to do something rad with the equipment they're provided with.
With the exception of zoom lens functionality, today's POV cameras are wayyyyy more powerful then anything Level 1 was working with when we made our first few films... so we're pretty certain that people today can take a POV cam and do something special with it.