"Historically speaking, Ueshiba does NOT have any ownership on the label Aikido. The name Aikido was invented by the Dai-Nihon-Butokukai for Practical Yawara, or Ju-jutsu if you prefer, and Ueshiba adopted it, not the other way around. Hence:
"Aikido == Ueshiba derived jujutsu" is simply untrue, It's not an identity, rather just labeling."
Taken from this thread:
There is plenty of debate about the system in that thread.
More video of the system. It looks like fairly standard Aikido to me. http://youtu.be/vlPswDwULR4