iVideo has nothing to do with Apple but it's clear that the developers have tried to emulate iPhoto or iTunes for videos.
And they've done a pretty good job. iMovie, like iPhoto, automatically detects all video content on your hard drive and organizes them by date or other parameters that you specify. This is so much better than using Finder to organize your multimedia content. Movies can be organized using playlists and thumbnails, and can be viewed directly within iVideo or using an external application. It then makes them much easier to manage, publish and share. iVideo allows you to perform batch renaming, full screen playback and compile smart playlists.
Browsing your films and videos by thumbnail is much nicer than going through hundreds of anonymous AVI or Quicktime files. Sharing is also a high priority with iVideo. The developers have enabled you to export a selection of videos to an HTML page that you can then upload directly to your FTP server. Although it's probably quicker to use YouTube for this (it would have been nice to have seen YouTube integration in iVideo) it does mean you have control over your own content and can upload files as large as you want. If you're on a local network, iVideo makes it easy for anyone with the application installed to share videos too.
iVideo is the kind of app that you wouldn't be surprised to see in iLife and if you have a lot of disorganized content on your hard drive, you might find it reveals content you forgot you even had.
- Version 4.5 is a maintenance release.