Well... whether FFXIV dies or lives is entirely dependent on how stubborn/greedy SE wants to be, imo.
As far as the video goes...
He did make several very valid points.
-F2P did change the face of MMO's.
-Perhaps they should look at a F2P model at least temporarily, or otherwise.
I'll be honest now. I'd forgotten about the Star Wars: The Old Republic... but I can't help but think that they're rushing it- much like they were rushing with WoW's Cataclysm.
So my question is... Have they learned nothing from what happened last year?
Personally, I don't think FFXIV has much to fear from Star Wars because the fan base is completely different. Certainly there is a middle ground where the fan's overlap but generally speaking it is a different ball of wax. Not to say that Star Wars isn't a brand to be reckoned with.
That being said, it'd be dumb for SE to try and rush this because it's rushing that's really going to kill it.