Good video with valid points, I think a lot of kids could do well to listen to the people or person that made this.
That said, the same points could be made about anything. For example, I play basketball every Friday night (not tonight due to snow) I train for bball monday tuesday and thursday. I go to the gym 3 or 4 days a week. I work weekends. I go to university. I have a girlfriend. I bot, and play, WoW. Do I spend too much time on any of those activities? Depends who you ask, I'm sure my gf would rather 1 skipped a training session here or there, but it's all about balance. Videogames aren't the problem. The problem is lazy kids and lazy parents. People need to take responsibility for their actions and stop looking to blame and sue everyone they can.
Keep yourself intellectually, socially, physically and, dare I say it, spiritually* healthy and you'll be set.
*I should make it clear I am an athiest, however, spiritual contentment is important to many folks. I'm content in my knowledge that there is no "spiritual realm"