That's an interesting question, but i guess it comes down to personal preference. The ten minutes of the run i watched were clearly over the top for me. The only two enemies that were encountered in that time frame were the one Combine soldier within the scripted sequence and the helicopter, and the only other thing that happened that you would see during a regular playthrough was when they used bhopping to jump through the gates in the water sequence before they could close down.
And for a run that has nothing to do with regular gameplay, this one takes quite long. I enjoy watching someone break A Link To The Past and run it in 90 seconds, but 40 minutes of engine abuse are a bit much for me.
For that, the new engine runs exist. Look up Half Life 2 DWAHMOV or Half Life 2 Episode 1 and Episode 2 runs. New engine runs are done on the Orange Box engine version, to which Half Life 2 and Ep 1 were ported in 2010. No more bunnyhopping, but along came ABH (Accelerated Backwards Hopping). No more trigger delays, but along came sharking and the dolphin strats. Tons of things were patched out (the Valve way, which is why ABH exists in the first place) but a lot of things replaced them.
Then again, HL2 DWAHMOV is already beaten by Gocnak in single-segment runs (he was one of the main runners of HL2 DWAHMOV), and more recently, Chili N Such made a sub 1:20:00 WR run with the help of tons and tons of new strats discovered such as prop clipping (not like old engine, but the slower more difficult to do way), boatless and the approval by the speedrunning community to allow save deletion as a legitimate thing to do in runs.
i find the sheer speed of bhop runs very impressive to watch
altho id probably just watch Too Much For Zblock if i wanna see that
Again, HL2 DWAHMOV might be worth the watch. They frequently hit the hard-coded limit of 3500 HU/sec and do some pretty amazing launches with it, such as crossing the ocean on the Coast maps and skipping basically the entire entrance-into-Nova-Prospekt beach sequence launching straight into the sewer pipe with ABH.