Not sure if other people have seen this before, but it was the first machinima using TF2 assets outside of Valve. And it's really great... and dare I say somewhat beautiful? Great way to enjoy the style of the characters and backgrounds of TF2 as well. And some great gags, with a lovely soundtrack.
Other than needing a little editing as well, I'd say it's also good cinema.
Give it a watch. It's about 7 or 8 minutes with credits.