Here in the UK, my favourite retailer, Wayland Games has also posted that its having issues. I can see that GW are essentially trying to get people to buy from their online store exclusively and as far as profit goes I can see that. However in their release to retailers they are spinning the line that this is best for the hobby.
This BS reminds me of one of the times I worked for GW. I was sent for training in Nottingham and we had a great morning exploring the hobby. Then in the afternoon they span this great yarn that they want to spread the hobby as wide as possible cos its a great game. They failed to mention that this would also bring in more money for them. Now don't get me wrong. There is nothing wrong with saying they want to make more money. What I object to is this constant hiding this with "We want to do whats right for the hobby" which, to be honest wiffs of pure bollocks.
As far as internet purchases go, where I live (in the Highlands of Scotland) there are no GW stores. There are a couple of local shops that sell some of the bigger stuff at full price, so the internet is pretty much the only option for me and many of my co gamers in Inverness.
My personal response? I've not decided yet. Its certainly made me think twice about spending money on Tau stuff and Im mulling starting Dystopian Wars or something other than GW to be honest.
We will see what becomes of this, but I agree with the video: in the short term this is probably very good for GW but it shows their lack of understanding of the internet and will no doubt harm them in the long term.