Luckily Black Hole plays way better than the version I have on GameCube's Gottleib Collection (some times the ball flies so fast I have to lock the view so the whole table is seen) but what does concern me here with this footage is the ball seems to lose frames occasionally. Is this true? Maybe the guy capturing the video here didn't set his video properly but I'm curious if it has missing frames like this footage shows.
Never judge recorded videos to be a true indication to a game's visuals, especially if the destination is Youtube. There are better places that allow better quality video but most places don't allow gameplay video because they are considered copyright infringement. In fact, if the company wants your gameplay video removed and complains to Youtube, they will remove it (I've had some removed at the request of the copyright holder). Youtube doesn't allow 60 fps videos either which hurts games like Modern Warfare, Forza, Pinball Hall of Fame, etc. that are 60 fps games. Also, Youtube compresses the heck out of many videos. Sometimes the Youtube transcoder does a good job. Other times, it really destroys the video. Regardless, it really compresses the bitrate down. That's the Youtube side of things.
But then there's also user side errors. I've had virus scans kick in while I was recording (and didn't realize because I was playing). I've had my notebook go to sleep during recording because I forgot to turn off power settings. I've had random USB disconnects (I use a Hauppauge HD-PVR with a laptop). I've had the wrong recording settings. And if you're editing the video, most edits are destructive and will require transcoding or re-encoding, resulting in lower quality video. If your PC isn't quite good enough to handle your settings, that will also result in dropped frames, requiring you to either tone down your settings, get more RAM, get a faster computer, or get faster drives (like an SSD or faster HD).
But I love recording gameplay. It's my gaming history. I can look back years from now and see what I played at so-and-so time. Just like flipping through picture albums or old videos. I still remember an old video my dad recorded of my brother and me playing Atari way back in the day.