In a technical sense most video is compressed using motion prediction algorithms so the preprocessing on the data is already significantly different to static images, containing more compressed information. Only the key frames are actually full images and they only make up 1-5% of the frames.
On top of that the video container usually provides synchronized audio packets.
I'd guess you'd miss any audio that way. But otherwise, yeah a video is a stack of images.
You could say that this demo is processing a 2.4s video that is 1.25fps.