Looks like it depends on gyroscope data gathered while capturing video in this case. But I agree that a solution like Microsoft's not commercially available Hyperlapse solution is more ideal when you have another camera or footage already shot.

Somebody could make a GoPro mount that attaches to an iPhone, plus an app that records the gyroscope data in sync with the video.

Or GoPro could go make a GoPro camera with a gyroscope sensor.

Seriously, it's a shame DSLR etc manufactures don't offer an open API.

I had hope for my way too long and boring gopro videos...