Taking with a grain of salt but that's some pretty detailed replication/video editing to get exact menu movements and sounds.
What I could see in the video:
Themes: An actual theme shop, potentially allowing third-party to make their own?
Rooms: Seems to be chat rooms, allowing smartphones and Switch consoles to join in. Switch can use its microphone which could mean not that Nintendo is killing the smartphone app but that they are expanding on it, using the app as a way to communicate when away from your Switch.
Folders and layout: Can create folders, change the layout of icons. Sorting as well.
Apps: Looks like there will be media apps, which we do know was on the horizon vaguely/rumoured. Looks like a browser could come as well.
Cloud storage: Briefly appeared when they switched to memory usage, shows it as an option so potentially cloud saves.
If it's a fake it's very well done. Has new sound effects for new actions and everything.
There were no new sounds that I could hear, all standard. I checked to see if I could hear clicking of a keyboard or something but if there is it is incredibly quiet.
Also, still take it with salt but the naming convention seems to be free enough for the fodlers that they could have just teased with the naming of Virtual Console.