I hate to say this but this is not breaking news. Matt is not saying anything new here. Google can't index every single site every hour in a smaller way as he's describing in this video. If you want to put this to test, add a page or content (paragraph) in your site and do a websitegrader report for Last google crawl date and that'll answer any doubts that you've about this. Sad part is no one really knows how frequently Google's crawlers are picking up new content and that's Google's way of keeping this a secret. SearchReadySEO http://www.searchreadyseo.com
I've seen several videos of Matt Cutts' so called updates in every one he is very careful not to divulge any real info on what's going on its just a general statement.
Matt Cutts isn't giving anything away in that video. He excuse for not providing information on updates because they are now made daily is weak. They could provide the updates in a monthly report if they wanted to. Fact is they do not want people to take advantage of any algo updates, so they make them more secret.
It does however answer the multiple threads that keep popping up daily asking " how often does Google update"
Good find. So G are making 400+ changes to their algo per year, eh? That sounds like a whole lot of trial and error going on. Matt: What the @$%*( is this crappy-ass site doing in the #1 spot for 'convivial seances'? Engineer: OK, boss, I fix it. Less weight on title tag... NOW! The next day... Matt: Damnit, now you've gone and messed up the results for 'judicious pancakes'! Engineer: OK boss, we put less weight on alt tags... NOW! Etc.
Matt is always very careful to VERY general in the information that he gives out. Mostly because thousands of people would twist what he said if he ever let to much information out.
For all the popularity Google has, I still found Google does not index all the URLs I submit in sitemap. (they are all unique also)