I think you should listen to the video yourself PROPERLY this time!!
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A foolish consistency is the hobgoblin of little minds
Thought for today:- Is SEO the only industry where all the cowboys are Indians?
SEO is a continues process. Those gossips about the end of SEO isn't true for those are only speculation. There are no basis on it. I wont believe it until SE's itself will be the one to announce about the exit of SEO.
SEO is a long process,it doesn't have an end,when it is going to end is,when internet is no more on computer system,..or no websites in the internet that is the 2 possible ways where seo is going to end..
Perhaps the video ought to be called "Will blackhat SEO still exist in 5 years time?".
Companies are always going to try and find quick and easy (and often illegitimate) ways of getting their pages in the top results. But what is hopefully going to happen is these methods will become less and less viable. You'll perform minor tweaks but overall the entire process is going to be more organic.
Lots of people seem to confuse SEO with marketing. Website marketing is always going to be a lengthy process, with lots of shady characters trying to dominate the industry. Hopefully the search engines will get better at eliminating them too but that's an ideal world and I see such types being around for quite some time yet.