"...video can't be stored directly on chain..."
IIRC, IRC is also text only, but means of using text to encode video arose back on Usenet (also text only, if I'm not wrong), and IRC and Usenet both have long been used to share all kinds of media, so it seems to me Hive could be used the same way.
Just sayin'.
But that's besides the point, which you make well.
Thanks!