I agree, it is arrogant and stupid to think that there aren't other life forms out there, whether it be bacteria or perhaps intelligent life.
But, in all fairness, the video does have a fake 'feel' to it. The jet-looking propulsion systems on the bottom of the crafts seem to be made up. I seriously doubt that any intelligent life, capable of travelling to various solar systems, would use jet propulsion like that. They would most likely use some sort of electromagnetic propulsion. Plus, the debunking video pretty much crushed the original video, in terms of validity.
Although, it is possible that intelligent life, everywhere, would destroy itself before it has the chance to develop interstellar travel.
Here is a pretty cool link about the Drake equation, which estimates the chance of extraterrestrial life establishing contact with us.