Average people who edit videos are already doing so with existing native apps or Youtube's in-browser editing capabilities.
And there are free editing apps for every platform, and every digital camera probably comes with one.
Also a search for "online video editor" returned plenty of results. I don't know about the quality of capability of those sites, but it doesn't seem like "video editing for amateurs" or "video editing in the browser" were unsolved problems until veed.io came along.
Clearly there are people who are willing to pay for what Veed is offering.
A revolutionary, industry disrupting, potential billion-dollar concept? Something worth injecting VC money into? I don't think so.