While object-based UIs have failed to become a success, the video does show some interesting UI features, like inertia scrolling, that have only become widespread quite recently. Surprising to see how ahead of its time this prototype was 22(!) years ago.
Most of the touch-screen demos I've seen seem to have all discovered inertial scrolling. I think it's almost inevitable that, once you have a tactile interface, the expectations of real-world behaviors when interacting come out. Most of the pre-iphone interfaces all focused on being menu-driven with buttons or scrolling with mice, so that natural discovery couldn't occur.