For big companies I think it is OK. Small companies don't have the resources (employees and/or money).
When I worked for Bank of America (a slightly big company
) we used to get those videos once a year or so. It was interesting to see the Board of Directors and the really high up guys in person (sort of). Otherwise, they are just names in the paper.
The videos were done in-house by the group that does training videos and such.
We did video conferencing to deal with current business situations and decisions. The videos were really just PR for the employees. But hey, your employees are your best representatives so while I would not disagree with Mal that they are "Rah rah company cheerleading bullshit..." I don't think they are a bad idea.