The music is terrible, the presentation glib, and the $400 only accounts for mininum-wage labor, not materials (like the cost of the animals slaughtered).
But, this video is valuable for showing just what goes into making the materials of a very rustic book. Making a refined book is only easy due to the scale of industry.
Watching this reminds me that books are a technology, and like any technology, the methods of production have been perfected over time, until books became so ubiquitous that the process of making them completely dissapeared, and all we are left to think about is the content inside of them.