Found Footage: Possible video taken by iPhone?

Could this possibly be the first video taken by an iPhone? Over at iPhone Matters, Gregory Ng posts that he received a copy of this video from an Apple Store employee in California. In the video, you can see what appears to be an iPhone appearing on the iMac screen as recorded by its iSight. The video is not the highest quality and Ng writes that the sender compressed the video before sending it over email. What do you think? Real or hoax?
Thanks to Hadley Stern