I now remember I used his service once, many years ago. I uploaded 1 video, just as a test, and after a few seconds it was done! In other words, it noticed it's a video that's already on the network, and didn't need to upload the rest of it.
If he's going to create the same service using data encryption, and the server doesn't know what content you upload, he can't do this anymore. If 1000 people upload the same movie, it will have to be on his servers 1000 times.
If he's going to be competing with torrents, and every movie is on his servers many times, he'll need a lot of diskspace. Let's go crazy, upload the full blockchain as a backup!

With the start date 4.5 months away, he has to keep the hype up or it'll be forgotten before he starts it.