So I don't disagree with anything in the video, but I think it is sidestepping one of the key things people discuss when they talk about declining American manufacturing. They discuss the loss of American manufacturing as due to increasingly efficient manufacturing processes that require less labor. While true, it doesn't explain why entire sectors disappeared from the economy.

They briefly touch on how American manufacturing shifted from low profit margin goods to high profit margin goods, but ignored that those low profit margin goods were consumer goods. That is why people think there is no American manufacturing sector. If you want consumer goods produced in America, you have to go out of your way to find them, and pay a premium because those manufacturers aren't dealing in high volume to benefit from economy of scale.

Now the video does come back at the end and state how the low cost of these goods has led to increased overall wealth because now all of the consumer goods cost less, meaning more people can afford them, whereas if the same goods were produced in the US, the cost would increase dramatically, and thus people would afford less things.