Actually the proposed model allows for the use of real content, not just an
attribute. This is generally regarded as a better approach for accessibility
since it provides much more flexibility (and as it happens provides for better
backwards compatibility as well. So instead of
<video src="foo" alt="video of me falling off a bike">
You can have
<video src="foo">
<object type="video/theora+ogg" src="foo">
Sorry, it seems your browser isn't playing <a href="foo"><img src="fooshot"
alt=""><br>
the cool video of me</a> that I put here. Pity, you are missing out on
watching me fall off a bicycle.
<p>Still, you can always read <a href="reviews">the reviews and
descriptions</a> from my friends instead...
</object>
</video>
or something. (If you are using HTML as a source for multilingual sites, or
something more complex, you get even more magic. But that's a somewhat advanced
use case).
cheers
Chaals