I don’t see any relevant in-game content blocked by this, such as dungeons, POIs, important spawns, lore tablets, ghosts, etc.
I haven’t watched all 36 minutes of it, but I did skip to the end to see the finished product, and it looks like every building has crafting stations to make it functional, so it’s not a purely decorative build.
I don’t see any roads or bridges going out from it.
I don’t see walls that are placed far from the buildings to artificially expand the claim.
It doesn’t look like it has enough complexity to bog down the server performance.
There’s no claim spam around it.
All in all, if you don’t build it in a place that encroaches on someone else’s claim, it looks like you should be okay.
EDIT: Also, don’t let the name of the video confuse you. Even if you consider this build to be a village, it still doesn’t seem to fall under the spirit of the “Walls & Villages” example: