One would hope that David Bowie (and/or whoever else holds the copyrights in question) would recognize just how insanely bad this looks and would "grant" a perpetual free license to keep this video online. Bowie, himself, has had a rather progressive view of copyright for many years. Back in 2002, for example, Bowie declared that "I'm fully confident that copyright, for instance, will no longer exist in 10 years, and authorship and intellectual property is in for such a bashing," and further noting that this is "terribly exciting."
What a shame. Especially since he did a great job with the cover.