Is it all Gloom and Doom and time to Gloat?

Depends how deluded he is.

1. Video Search and archiving within the enterprise (VTB were ahead at this; boat now missed)

2. Video Content Management for the enterprise (afaik VTB sold this with Media in 2003, although the system they had was the undisputed market leader BY VOLUME as well as function)

3. As you say, another crack at video conferencing? VC has been the great revolution that never happened in almost every guise. In 2002 VTB had a stab at this by creating alliances with the VC market and using VC protocols to capture for webcasts. This is a good idea on the face of it but customers do not seem to care.

4. Consumer video content management (aka YouTube, MyTube, whatever) - again VTB had this and sold it.

5. IP Radio could be interesting, as could dynamic advertisement placement and management in IP broadcasts - although this would be a standing start more or less because it is unlikely to be a major thing for the existing customer base.

Assuming that they actually have a true, scaleable webcasting platform (and I am not at all sure of this given the capacity comments in the webcast), then I would guess that they will create some sort of corporate front end to it, give it free to the customers and tell everybody that it represents innovation.