Neat trick.

From which I would infer that ceramic bearings (mechanical efficiency) and such, are a waste of money and aero (position & equipment) is everything.

I'm not going to vouch for the efficacy of ceramic bearings vs alternatives, but you really can't infer much from this demo because of scaling laws.

The aerodynamics of that draggy-draddle spinning fairly quickly will change at a rate proportional to length squared, (Reynolds number being proportional to velocity*length, and here velocity is omega*radius or omega*length*constant equivalently) but the mechanical loads are proportional to mass, which scale as the cube of length along with volume.

So, a properly sized spinning thing with equivalent physical properties will have a much higher Reynolds number (it will behave as if in less viscous air) and much more inertial mass - spinning much longer. At some scale the load-bearing interface becomes the critical source of drag.

Again, not that this applies to cycling aero or ceramic bearings, but neither does this demo. Still a fun demo to watch.

This does it. From now on I'm doing all of my rides in a vacuum! :-)

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"It doesn't get any easier, you just get faster" - Greg LeMond

That will severely limit your oxygen intake.

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'It never gets easier, you just get crazier.'