I agree with you. While being fancy when you're performing is a style of performance and ultimately the choice of the magician, there is such a thing as too much. Just as there's such thing as too simple. If it's too simple, you run the risk of making the effect boring to watch, as most of an effect is lead up and premise setting, they won't make it to the ending without tuning out. The journey between the start and the end have to be clear enough to follow and exciting/stimulating enough to keep you engaged.
This video is borderline, but not too fancy. I think this might become a growing problem in the generation of the hybrid flourisher/magicians