Here's a neat way to think about it: The online dictionary is steampunk... Victorian design merged with modern propulsion...
One of my most memorable courses at university back in the day was on lexicography. (Although, come to think of it, it was likely more for the prof's anecdotes, of his days studying Maori tribes, and his days as a book-binder, and less to do with actual lexicography. Still.) The course was a somewhat more technical dissection than this video offers, but, ah, it takes me back.
"The Internet is actually made up of words and enthusiasm. And, words and enthusiasm actually happen to be the recipe for lexicography!"