Short answer: Yes.
There are three core deflections used in "Tenshin" style Aikido. Uke Nagashi is one of them. However, in the video you referenced the instructor has a few terms mixed up, so if you are looking deeper into the subject, be sure to do some more research.
Thank you, you bring up a point I was going to make, as a non-aikido practitioner most of my knowledge comes from videos such as these but I don't know how reliable they are. They are well made (from my point of view) and generally inspire me to explore Aikido further but I do want to know how reliable they are. Would you mind expanding upon which terms the instructor has mixed to help me with my research.
Regarding you point about deflection, I agree with you I would rather deflect than block for the reasons you gave, hence my interest in learning this technique. This is what I love about Jujutsu/Aikido and why I'm not a boxer.