Did this work better in person, or did it really look this cartoon-ish?
The reaction of the audience in that video should provide a clue to your answer. It was breathtaking in person. What you don't get from the video is the depth of the tableau. The ship was basically against the back wall and the ocean was a rake that covered the majority of the stage floor, creating a rather stunning and startling perspective of seeing the ship pass in that night, almost as if you were on board another nearby ship. The preceding song enhanced the experience through the lyrics that assist in the dichotomy of the atmosphere and mood with what we know is coming as the melody slowly shifts from being carefree and lackadaisical to anxious, growing in intensity only to be interrupted by the infamous line heralding the beginning of the unavoidable tragedy. As if almost in relief, the audience is at once removed from the perspective of being on the ship itself and provided a striking representation of the night as was described in song with a gentle melody, but as the ship approaches its destiny, the music again invokes the the foreboding dread of what we an know awaits only just beyond the proscenium's edge.
It was beautifully tragic, emotional and intense. There was no way a two-dimensional video of any sort could really capture the feeling of seeing it. Unfortunately, the tour just couldn't replicate it as well and the efforts to recreate the rest of the staging was unsuccessful.
"What can you expect from a bunch of seitan worshippers?" - Reginald Tresilian