So, yeah, this looks plenty stupid when you're expecting some real fighting to take place. I've seen these sequences live when I was visiting one of my best mates' dojo on a few occasions, the dojo owner and a real-aikido 3rd dan black belt was "crushing" guys left and right in his late 50s. There are two families of aikido techniques - ki (or traditional) aikido, very much focusing on this type of stuff, techniques that don't necessarily have real-life application, more for martial-art-as-a-sport purists. Then there is real-aikido which this dude was a founding father of, more focused on real life scenarios and application for military and law enforcement. Gling back to watching him do his thing, it wasn't unlike what Seagal does here, but I can tell you this much right away - some of the techniques that are very simple to execute and look stupid in a video like this are fight-enders irl. One dodged punch opens a black belt to dozens of different choices of how to end the fight, and the technique execution will never look as clean aa in these demos, but rest assured, if they manage to grab your wrist, or you miss and they are close to your upper body, it doesn't have to be pretty for you to be royally fucked.
One other thing to keep in mind - demo dudes know how to fall. Average drunk Joe starting a parking lot brawl is out-out after one bad fall.
Aikido looks inane here but there's a reason why military and law enforcement train their staff in it...