Really only a couple of things to say about this. It's not that you haven't seen or heard this kind of thing before. The wow factor comes not from total originality so much as just simply doing it better than anyone has done it before. Second, the lo-fi-ness of YouTube in an HD era is a clever echo of the DJ's of the 90's mixing records in a CD era.
I hereby announce that we are formally Post-Web 2.0; you will now aggregate or you will be aggregated.