What's happening in this clip?

With some jets you start spooling up the engines just before landing just in
case you have to abort. There can be a delay of a few seconds.

The airplane does not weathervane into the wind in the sense that a
weathervane does. The pilot turned the plane into the wind in order to
maintain a straight ground track. I personally thought he was a little late
to flare, but he probably had already made the decision to go around.

There was no close call.