In my assessment, video blockchains will take years to manifest:
https://steemit.com/blockchain/@alexgr/why-blockchains-are-here-to-stay
You are certainly way ahead of our time... I mean, when thinking about it, there are so many potential issues that it's not even funny. Like spamming the blockchain with huge videos. This equals an economic amplification attack where I spend a few cents on my internet connection just to upload something big, which then needs to be replicated multiple times (even when sharded) - a cost which will burden the nodes. So I've paid cents to cause multi-$$$ costs in terms of storage and bandwidth to the network.
I have my doubts, but I wish you good luck in this endeavor.
He's not planning to put the videos themselves on the blockchain, but still they do need to go somewhere, and the problem is challenging. I agree with your assessment for the most part but still encourage the effort. @furion seems quite capable, ambitious, and industrious to me. I think it has a chance.
Yes, I realized it after I re-read the specs. My attention was dominated by the "blockchain-based" at the start of the post and I was like "huh?". On second reading, IPFS is far from optimal for this type of job but I guess we'll have to wait and see. I don't want to discourage anything and indeed @furion has been very active as a developer and he knows his stuff. Perhaps he can think of solutions to tackle the issues at hand. I guess we'll see how it goes in ~6 months.