Video can help drive traffic to your site, assuming... and this is an important consideration... that there's a demand for video in your market area. If you sell bolts and nuts by the pound, eg, video might not apply.
Check out the discussion (and the related discussion that I link to). Here are two paragraphs from one of my posts in the thread which I feel summarize my answer to the question you're asking, or at least to the question asked in the title of this thread: How does video benefit SEO?....
This also takes us back to the original question, of how much of the traffic to the video hub sites ultimately rubs off on your own site. I'm viewing video as a social strategy that can both drive traffic (and links) to your site and provide onsite content and longterm onsite benefits. Engagement, I feel, is a major consideration.
Social video may not be applicable to all niches, but it's definitely a strategy to be looked at.