The setup used in the video is with VNC. It's definitely not an ideal setup if you want to watch movies, play games, etc. There is delay when you use VNC. It's neat and novel to be able to connect to your iPad but you will notice a delay.
I think he's a bit out to lunch when he says that the age of laptops is boring and coming to an end. Tablets are the new kids on the block and I can see why he made that comment. But I don't think they will ever be replaced by a tablet. I'm pretty sure he'll realize the flaws with the VNC viewer to MAC MINI after getting rid of his MBP.