Firstly, seriously impressed with the videos, they take the blog to a whole new level!
I have to agree with your final point about the impact of the GFC changing consumers. I just think most people I speak to misunderstand it. Generations which have experienced economic difficulties carry it with them for life - just think about your grandparents - I bet even if they had relative wealth and comfort in their latter years they remained frugal having lived through tougher times. Now its our turn, we were previously immune, carefree, debt laden, and now many if not most of us have a tone of caution to our outlook.
As marketeers this is powerful. Value for money, at all price points, isnt going to go away. What actual differentiation do premium brands have from their cheaper rivals in our category - very, very little I would suggest. A train wreck waiting to happen or just the challenge we need??