I agree that we could have done a better job in Central Austin for the last 20+ years, but I disagree that it's a start. It's a panic-button. There are several posts up thread with sensible proposals for generating more housing in Central Austin while avoiding a blanket rule that creates the prospect of getting haphazard density at the whims of buyers/developers with zero understanding of or regard for the neighborhood as a whole.
I attended my Central Austin neighborhood association meeting a few weeks ago for the first time ever, and this was the only real topic for discussion. There was overwhelming support for thoughtful, targeted zoning changes that align with transit corridors. The neighborhoods have pleaded with the City for a seat at the table to show them where allowing 3-9 townhomes or other multi-family zoning on one lot with no off-street parking will cause the most problems (e.g., across the street from the nearby elementary school), but we've been shut out of the process. Why? So the only option the City has left us with is total opposition to try and force a compromise.
I haven't watched the YouTube thing, but I've read enough about it, and I think making some of the HOME proponents out to be the boogey man (or woman) is counterproductive. Most of us just want to have some input and be part of the solution rather than be told that someone with a computer program for citywide zoning and a theory about affordable housing knows better than we do about how to make this work in our own backyards. (Not to say that I know better than they do about city planning generally, but I can tell you that a fucking school bus can't get down certain streets with cars parked on both sides.)