Glenn Leibowitz sets out the case for video neatly and he focuses on the lowering costs of production.
The DIY route is cheapest, and easier than ever (but not necessarily 'easy').
But it's horses for courses...your web front page is probably not the place for a home produced YouTube style vid, but your blog and social media can be brought to life with them.
Yes, making good videos can be difficult and costly. But this is changing — and fast.