Your first paragraph ignores the central point of the screencast: How would you record those mouse interactions as a general, reprogrammable macro? He signs off the video with an important statement which hints at the 'zen' of using Vim for a long time: "It's a nice thing to aspire to, to automate all of your interactions with the code in this way".
I tried Vim for several months and got reasonably competent. But then I timed myself doing the Vim tutorial with Vim and Gedit, and Gedit won handily. For this reason I'm convinced that Vim is only popular because using it gives you hacker cred.
I'm open to changing my mind based on solid experimental evidence, but for now I only use Vim occasionally, for the macros.