Just because this is now called the Movie portal, it doesn't mean that it's a video-dump. The focus of the portal is still ANIMATION! I know there are submissions that use live-action on rare occasions, but this doesn't pass. The biggest reason the video feature was launched was to support video that was converted from SWFs or other formats like it. Not make it a new youtube.
As for the content, it's not new or original and ran for too long. That doesn't actually matter, because it doesn't belong here anyway.