Anyone remember this?
Yep; love it!
The ugly:
It's a fustercluck which doesn't do anything to actually exemplify the action players would encounter under typical conditions.
I think that's by design, it fills an need and fills it superbly. However, there is more than one need so....
An official trailer which gives viewers an actual idea of what they may typically encounter when playing FSO would be an excellent way to get the game out there. However, trying to create a trailer by committee or group opinion will end up going nowhere because people are going to argue about what should and shouldn't be in it.
It'd be a fairly sizable undertaking, but I think we could do it IF we could come to some sort of consensus on what we as a community want to portray ourselves and the game as in an orderly, meaningful manner.
Yep; I recall Droid (iirc) bringing this vid to my attention (the last time we were all discussing better marketing for HLP

)
And I think this is probably hits the 2nd need you're talking about square in the face, ~show the gameplay~. The downside is that the current trailer is a mission, just play & record it and it's up to date with the latest eye-candy. This sort of trailer requires a lot more work each time it's created to splice together video, sync it with a song, etc. Maybe this is a proposed-aide-team kinda project, a small team could agree on a set of visual settings to use; then all record clips of the main FS2 campaign, and then (probably one video editing lead) puts it all together. To make it simple you could try reusing the same music record similar clips, or you could try scripting a new set of clips. Maybe there's enough footage on youtube already from LPs, etc? Maybe add gameplay from different mods... although we also don't want arguments about which mods get included & which not.
My only another comment is that it's perhaps a little long for a gameplay trailer. But meh, even having the original updated with the latest eye-candy would be great.
edit:
Huh, well look at what the bots of Google found for me just after looking at both trailers again; a new gameplay trailer from 2016. German language version, and a bit dark IMO, but still!