"Clarify, reduce noise, and improve overall video clarity" is not "just a compression algorithm", what? Words have meanings.
Noise is, because of its random nature, inherently less compressible than a predictable signal.
So counterintuitively, noise reduction improves compression ratios. In fact many video codecs are about determining which portion of the video IS noise that can be discarded, and which bits are visually important...
“a small experiment on select Shorts, using traditional machine learning to clarify, reduce noise and improve overall video clarity—similar to what modern smartphones do when shooting video.”
It looks like quality cleanup, but I can’t imagine many creators aren’t using decent camera tech and editing software for shorts.