Wow, it is a backstab! They force creators to make longer videos or they won’t get monitized and then do this. Creators get paid by the watch minutes.
They've been doing that for a while though e.g. a specific (say) 31s segment of a video will come in the search results rather than just a link to a popular video
A 12 minute "Here is my favorite method for unclogging a drain" video becomes a three sentence reply from gemini telling you what it is.
I don't know how google is gonna get this past creators if they fully role it out, as it is a massive shameless backstab, but at the same time it is wonderful for viewers who don't want to trudge through filler video after clickbait headlines.