This is weird... Obviously thought went into the routine. Yet it sucks on so many levels. It is way too slow, thereby making the sleigts way too obvious. The grater pun is cheap. And cheap puns work as long as they are within something greater. But there is nothing greater surrounding this cheap joke, making it fall flat.
This is a typical case of work going to wrong places. To me it looks like a rehearsal video, not a performance video. It feels like the performer, The Amazing Schu, is trying to not forget his lines or the structure.
So watch out when you are uploading magic to the Youtube!