I seriously doubt it, it looks like a "dumb" screen for the most part, using the mcu to read data and phrase it over serial port
even so (128x128)x2Bpp (16 bit color) = 32768 bits for a single image ...
32768 * a minimum of ~10 fps is 320Kbs from storage though an 8 bit cpu back out to the serial port ... which is more than 2x the standard serial speeds, and even at that range it will be choppy
basic film usually runs at 24 fps
course the term "video" is subjective, some people call a 8fps 30 frame animated gif "video"
PS: po dunk hobby shops, if you cant tell me the features of what I am buying without having me click on a side link and dig though a datasheet to find out BASIC features of your device K.M.A.
yay its a screen and a joystick ... and does it have memory? its own controller? etc? really it would cost you a whole extra paragraph to save me diving into a phonebook datasheet to find basic info
You may be better off with a Java cellphone that plays videos and has a blue tooth link. A saw someone show a phone+arduino+toy car a while ago. Arduino can tell the cellphone what to play and take its inputs and do something. But why would you need arduino then? There might be a time when beginner hobbyists can do videos on an arduino-like easy-to-use system, but it is not now.