FWIW, as one who has made countless FR approaches, the 412 could hover OGE under the conditions of the video.
This is not VRS. It doesn’t even appear to be settling with power, unless one considers the reduced Nr.
This is primarily a demonstration of transient rotor droop.
Anyone care to count the duration of the 0 to max-up collective pull?
Never discount the V-squared term in the equation of lift.