This is a fascinating video uploaded to YouTube from a Demo Tape of the now defunct "D-Theatre DVHS system". DVHS was an attempt by JVC to extend the life of VHS by making a digital version of it. The chances are you've never heard of his though, right? The format did not catch on. They also attempted to make an HD version of the format, which this appears to be from.
According to some of the commentary, the video itself was shot in 1993, based on the ads in Time Square. This is interesting in itself, as HD Video wasn't widespread at the time, and this was probably recorded on an analogue HD system. The D-Theatre DVHS system didn't come into production itself until 2002.
It's fascinating because it's unusual to see HD Video from the time period. Most HD content from that time would have been shot on film. The video look, with its 60fps gives a sense of hyper-reality in the same way news footage does, compared to film, and even though you can clearly see the limitations of the recording format, it's a really different way to see New York in the 90's. Footage recorded on film at the time, would be 24fps and look more, well "filmic" which, while having a more artistic quality, doesn't have the immediacy of the video format.
A funny unrelated story is that I actually worked with DVHS once. It wasn't the HD version, but a pro version of the SD format. The person I worked for at the time didn't want to invest in Sony's widely used (and still, in some places) DigitalBetacam because he was convinced that this DVHS was going to be the pro format going forward. He wasn't very good at predicting future trends. Or reading current ones at that.
It was an awful format to work with.
The scary thing about this video, as someone in the comments pointed out, that this is now a quarter of a century ago. Ok, now I feel old.