Haven't watched the whole video yet but I predict discussing it is going to be fun.

http://www.youtube.com/watch?v=DoK8HXMSsNg

Edit.  Ok, watched it all.  My quick answer:

Bitcoin is a decentralised accounting tool.  It is pretty much as useless as a pen and a piece of paper are.  Which means it is not.  A pen and a paper is useless only for someone who can't write.  Or for someone who can write, but in a world where nobody else can.