Piping all data to /dev/null for performance reasons is not something I had considered before ;-)
"If /dev/null is fast and web scale, I will use it. Is it web scale?"
In all seriousness, this video is as much about poking fun at those who casually use technical terms in conversation without even partially understanding what they mean than anything else.
Updated 2021 : note that the above post was originally published in 2010, but is left here for archival purposes. I have fixed the YouTube video link to embed the correct video.