Not to insult your opinion on the matter in any way, but I think this does benefit gaming. When people can do cool/fun/interesting things in games, and then share those experiences, that helps spread the word about the game and get more players. One of the things that really helped push Persona 4 in the West (beyond, of course, my awesome cover story for the now-defunct Play magazine *heh*) was Giant Bomb's play-through of the game. Video shows off a game in a way that text or screenshots can't. People had fun watching the Endurance Run, then decided that they wanted to play the game for themselves.
Building up a community around the games we play is a huge deal, and I think will be a must going forward to advance the industry. Being able to easily show off the things that make games enjoyable will help get the word out about those games, and get others to try them. That's hugely important in my mind. So, I'm super-hyped about the concept.
I also don't get the "I'll buy the new Xbox instead of waiting a few months" complaining. We've had to wait years and years to finally get successors to the PS3 and Xbox 360a few more months is nothing. Life works that way, and it sucks sometimes.