I pretty much agree with everything the dude in that video said.
It's a load of crap, and removing the songs on Youtube will only encourage downloading elsewhere- if I find a song i like then they get rid of it, I'll look for it. If the only place i can find it is a torrent, I will download that torrent. YouTube = free publicity. Removing songs from it = bad business.
The copyright holders also target coverbands.
I had a couple videos of my old band removed from YouTube and got a nifty threatening email from them.
Now that is just wrong.