That hasn't really changed though. He's just decided to manifest "Twitter is a video platform" into existence. The controls are still total ass though.
Yes just to be pedantic, twitter has never been "a video platform" – but that they've had support for streaming live events for years.
So take with that whatever it means, that it's just not going to be as first-class citizen like in Youtube. But the CDN etc must be good enough as those things are easier to do nowadays.