It's funny, I actually just watched that video a few weeks ago, and I completely watched it again when you posted it.
I wonder what a good super mario movie would have looked like. Live action, with 1995's special effects. It's difficult because Mario has an inherently cartoon-y feel to it, and cartoons pretty much never translate into live action well. Either they make the mistake of the Mario movie, and everything is so far removed from the source material that it doesn't really connect. Or, they make the mistake of the Flinstones movie, where everything looks just like the cartoon and, thus, looks uncomfortably out of place with the flesh and blood actors.
Perhaps a better plot would be:
Mario and Luigi are plumbers. Plumbing is a tough job, sometimes they are sad.
Mario is on a plumbing job, and falls into a large pipe. He falls out in a strange, colorful land.
He meets Princess toadstool, and her muppet-like Toads. (Perhaps she's a human who fell into this hole a long time ago?)She explains that they're being harassed by this evil monster named Bowser.
Mario is out of place. He kinda wants to get home, but he's intrigued by how important he seems to be in this world. He's like John Carter of mars. The strength he developed in the human realm makes him super-strong in the toadstool kingdom.
Now, personally, I like the idea that Mario and Toadstool don't have a romantic relationship. But in this movie, I think Toadstool should be suspiciously like Mario's perfect woman. Perhaps there's a scene with Luigi earlier where he describes his perfect woman, and Toadstool oddly fits the bill.
Occasionally, we cut back to Luigi in the real world, worrying about what might have happened to his brother.
In the course of his adventures (after some appropriate character development) Toadstool is kidnapped.
Mario faces bowser, who is never shown in full. We only get closeups of his face and tail and such. Also, bowser doesn't speak, he just roars. Bowser is a dragon, not a character.
Mario defeats bowser, perhaps by luring him onto a bridge, then cutting the bridge.
The movie ends with Luigi finding mario, and talking to him through a warp pipe. They have a heartfelt moment together, and Mario decides to stay in the Mushroom Kingdom. The two brothers have a tearful goodbye, and Mario kisses Toadstool.
We are left to wonder: did mario really travel to a magical land (as all the children in the theater would clearly believe), or was the whole thing a vivid hallucination brought on by head trauma? One where he gets to have the kind of exciting life that being a plumber didn't offer him, and meet the girl of his dreams? One which, in the end, kills him?
