Might well be early ST GEM versions indeed ran on top of CP/M-68k, but I'm pretty certain the video linked above does *not* show this version. I would strongly assume this is already an (early) GEMDOS version.
As stated, the video clearly shows some GEM folders. CP/M-68k never had folders as it was a - more or less - direct translate from Z80/8080 CP/M that didn't support the subdirectory paradigm (but the "USER" concept instead that allowed to subdivide a disk in 16 different logical views). Of course it might be the folders in the video are just a fake, but why should they have shown them if they didn't already know they will support it?