Well, the video makes a lot of claims, but I can sum it up:
"We built the Xbone for the FUTURE...but it's really only built to cash in on current trends."
"The Cloud". Penello glossed over this, and with good reason: Cloud computing is INCREDIBLY IMPRACTICAL for actually boosting performance for real-time games. Why? Because the places where games could most benefit from extra processing power ("scalable" parameters) are also those that generate the most raw data (big files being sent over the tubes) and are the mostly timely (need to be processed quickly).
Everything else described about "The Cloud" was just Steam. Cloud saves, downloadable games, yadda yadda yadda.
Kinect 2.0 isn't going to improve gaming. At best, it's a cute gimmick control system that wows people who haven't seen it before, and that's it. Enjoy your dance games, because that's the best anyone will ever develop for it, based on what's been made for Kinect to date.
Apart from that, the features for "SmartGlass" amount to nothing more than a glorified social media hub.
It's Facebook for Xbone, only with a limited version of FRAPS built in.
"The future of today, tomorrow!"