I'd say it's a reasonable drop distance, to be compared with (from memory) the single bolt Y hang at the top of Sidewinder in Marble Steps which from memory is less than the traditional 5 m below the last Y hang? (although I could be mis-remembering, but there are definitely other examples out there). It looks like maybe 2 or 3 m in the video?
It's also not even remotely surprising to me as that's an 8.5mm polyester hyperstatic cord that would not be legal to sell in the EU/UK as rope as it is not stretchy enough (it is *not* a semi-static 'rope'). It's got 2% stretch at 136kg, so I guess it's stretchier than something like dyneema but less stretchy than an 11mm semi-static rope and a lot less stretchy than the 7mm or 8mm 'ropes' we might use in the UK (which are of course also not ropes, but are clearly just semi-static ropes in 'skinny' form) which are more like 4% to 5% stretch at 80kg (HowNot2 give a static elongation for Beal Spelenium 8mm of 6.5%!).
I think the best line in the video is 'a normal butterfly is better; you die either way!'. Taking a dynamic fall onto hyperstatic cord is Doing It Wrong and a few knots won't save you...
That rope breaks (according to HowNot2's technical specs) at 19.3 kN, but with figure 8 knots in will break at only 11.25 kN which is worse (as a fraction) than you normally get with nylon ropes I think but seems to be common for more static cords (a larger fraction of weakening due to knots). Obviously in the video it's breaking at 4/5 kN which is much less than the rated strength but shouldn't really be a surprise - falling on ascenders is bad.
I'd suggest that in most cases on expedition these days you can just put a second bolt in a rebelay if it's close to the one above... if your bolts are so expensive that you are trying to save money on bolting, maybe you'd _actually_ be safer with a bunch of cheaper bolts that you weren't afraid to use? I appreciate you can't always carry that much metalwork, but in that case I'd just try and avoid a single bolt rebelay too close to the one above.
Most of all - don't use single bolt rebelays with hyperstatic cords!