I normally don't like Jim's videos, but I appreciate this one, taking exception to one point.
The "Independent AAA" moniker that Ninja Theory was using was trying to bridge the gap between indie games and AAA games. They strove to build a game with the production values of modern AAA.
While there are plenty of negative aspects to modern AAA games, things like microtransactions and DLC weren't always synonymous with AAA. Ninja Theory wasn't trying to adopt the divisive aspects of AAA. If anything they were trying to return to what AAA, or the B-tier - which is all but dead these days - was in previous generations.
Plus, with many people, the term indie still has a negative connotation. When a lot of people think indie, they think of shallower games, and retro graphics. They don't think of how innovative indie games are, or how their scope and scale allows them to deviate from the norm.
So, by applying a term like "Independent AAA" you can foster the idea that your product will take the good aspects from both indie and AAA.
I really hope that Ninja Theory did create a successful blueprint. I'm glad Jim brought up Raven, and Visceral, and Overstrike, because each of them could have benefited from this approach. It saddens me that the first two studios have been relegated to working on uninspired franchises, and I still wish we'd have gotten the campy Overstrike instead of Fuse - which despite the benefit of the IP being owned by Insomniac, is pretty much dead in the water.
Plenty of franchises could benefit from the approach. Those of us who loved The Order:1886 could have got a budgeted sequel. Maybe a follow up to Sly Cooper: Thieves in Time would exist, or Puppeteer 2.
And maybe, with enough success, today's AAA would realize that cookie cutter games with microtransactions and tacked on multiplayer aren't necessarily the best business choice.