I have actually used that exact tool, as the company I work for in my day job is in this industry. It works exactly like the video shows! The LED module that is being installed costs anywhere between $100-500, depending on LED size and quantity.
The LED vendor in this video is made by Absen, a Chinese LED display company, and a competitor.
Those pixel pitches are 1.9mm and smaller spacing. You can make an LED display as big as your wallet can afford.

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