Now, the above is all well and good. My criticism (which I shared with them) is the solution warrants building a new community and driving traffic to an environment which would otherwise lie dormant. The noise to signal ratio of YouTube is immense, but it comes with an existing community which can, when used correctly, deliver a life of its own.
What I feel would be a more interesting move is to have the ability to put clips on YouTube and then integrate the comments from everywhere that clip gets embedded. mDialog have already made a shrewd move in allowing Disqus-style functionality with comments being displayed everywhere a clip gets embedded, taking that one step further would allow the benefits of a ready made and heavily trafficked site like YouTube with the fantastic back-end tools provided under mDialog.
There was another product they shared which I agreed not to talk about yet, but it was, to my mind, much more exciting. They should be launching it sometime around the end of July, I look forward to talking about it then.