Is this actually confirmed that SE will put in a recording feature? Seem's wasteful given both PC and PS4 users can do this already courtesy of Twitch etc.
Also don't forget that video recordings are very different beasts to logs. Got a key mechanic wiping your group repeatedly? A video replay makes mistakes and failures much more immediately apparent and easier to spot than a log. Undergeared, hitting enrage and need to start going down optimisation rabbit hole? A video replay isn't nearly as useful here, whereas a log's timeline makes things much more obvious in this regard.
And no, that doesn't mean figuring out who's a few % behind the rest and flaming them, I'm referring to things such as dot optimisation and better cooldown alignment. Stuff that is often nigh impossible to accurately track on a PoV replay.
If the client tracked timestamps more precisely whilst also allowing dots to be separated and routed to the chat log, things would be somewhat different.