I watched the video and it does produce an elegant knot in a "seamanship" mode, nice, but as tied it still leaves a dangling lump of a knot which extends from the clew. As Loren has pointed out, the goal is to eliminate a knot which extends and will catch on lifelines, mast hardware, kayaks, upturned dinghies, or assorted grandchildren scattered about on the foredeck, during a tack or a gybe.* The simplicity of the Lark's head/Cow hitch/Luggage Tag knot is the one which eliminates that hanging knot, I think. I am not terribly worried about the compression of the grommet at the clew as I think the main force, by far, is pulling on it, same as with a bowline, etc.That's how I have my genoa sheet setup. One long sheet, less snagging when tacking.
*Lest you think I send my grandchildren to the foredeck during a tack or gybe, I do not. But trying to keep them from scampering about is another story. We settled on a compromise. We will all clip on to the jackline, no matter how benign the conditions are. For those kids though, I just have simple tethers made from a piece of line tied (bowline) to their PFD (vest style with crotch strap) and a hardware store spring clip. It is NOT coastguard approved but it brings great peace of mind nonetheless.