Yeah, the people who created the owl videos are providing value, youtube is providing value by making them available, the owl site is just leaching off of that to make a buck.
Most sites and tools I use every day are filtering tools. Techmeme is another great example.
It is true that a purely automated owl video scraper wouldn't be as good and one that was even cleaned up for five minutes a day, but that wasn't the suggester's point.
That is beyond, and because of, the aggregation. What is created is new and more valuable than the original posts, or even the aggregation thereof.
Google news is a good example, no one could really say that having all that article discovery and grouping was providing no value. Google scholar provides no content by itself but is very useful.