Touched on this in my other reply as well, but my point was that our intuitions about mechanical waves describe the electrical system decently enough - the same effects (though with significantly different magnitudes) can be seen with a mechanical equivalent of this electric circuit.

This is to be expected, since the Poynting vector is ultimately a consequence of two very basic physical laws: conservation of energy, and special relativity. Any system which obeys these two laws will have some equivalent of Poynting's vector, though of course the exact formula will be different.

Veritasium's video is deliberately constructed to obscure these facts, and to make it seem like electricity is in fact more mysterious/counter-intuitive than it actually is.