Yes, it is excellent and worth watching. I saw it first several months ago and watched it again after you mentioned it. The lousy flag designs reminded me of my experiences with government design-by-committee projects, which headed me off on a tangent.
Our state flag is one of the “seal on a bedsheet” designs mentioned in the TED talk. A marketer I know from a previous job is in the state legislature. Over the past several years, he’s introduced several bills for a new flag design. The legislature argues over it, forms committees, makes compromises, gets input, solicits new designs, argues some more, and still, here we are several years later with the same seal on a bedsheet flag.
On the other hand, my city has a rather nice, simple flag. The city council formed a committee composed of designers, artists, a vexillologist, and others qualified to choose a flag. What they all agreed upon isn’t too bad.