A YouTube video alone is not sufficient to make an informed selection from the applicants. An interview in-person, or on the phone at least, is essential. I hope the process was just over-simplified in the article.
I'd be a bit put off by any video requirements that allowed for too much more technical wizardry than that. I present myself well, but I do so far better in person, and I'm not adept with making movies.
I'd be quite happy to come in for an in person interview, even though I'm 1,500 miles away. I want to evaluate you as well. Committing to a particular incubator is a commitment by both parties and I want to be sure I'm comfortable working with you as well.