This way you are sure you will get noticed, and you have ability to express and present yourself the best way you can
A CV has a lot of information is a very short form and it's easy to maintain up to date.
Recording a video is much more work. I give talk in the university once or twice a year, with a friendly public of ~30 coworkers. I rehearsal it a few times, and it is as good as it is. Nobody will fire me. Now the talks are online, an the expected quality level is higher. Actually, nobody will fire me, but a bad recorded video looks very bad. I have to take the video like 5 times until it's good enough, but not as good as I'd like. If my job is in the line, I'll be even more nervous.
Some questions are very specific and each company will have their owns, so with your app I should make a new video.
Some questions are common, like "university degrees". Can I reuse the video? Do I have the same t-shirt for the other video o r it's in the laundry?
I went to a high school with a specialization in Chemistry. It's not a degree in the university, so I probably not mention it in a video for a bank, but I may mention it in a video for a factory. (I don't have enough knowledge to run a Chemistry factory, but I can't talk to the manager and understand better the problems.)
For me it's the asymetry in effort. If I interview with a company, I get to ask questions myself and get a feel for what working there might be like. When asked to record questions myself with no guarante someone ever looks at it beyond the initial 30sec, I would discard that as a waste of my time.
For example we, as a industry decided that whiteboard interviews about algorithm efficiency are a major red flag unless you are hired to solve those problems at your daily work.
If prerecorded interviews becomes a new industry standard among HR, I will go out of my way to find companys where I get to talk to real people at interviews.