The guy who made this video knows just enough to be dangerous, not enough to teach you much. Basically he seems to be a hardcore conspiracy theorist, who sees someone spying on him every time he looks in the mirror. He mis-identified several of the components, and was clueless about the overall design. This is a power meter, not a KGB spy device. It can tell the power company how much energy you are consuming, and likely the schedule on which you operate large electrical loads (heater, clothes dryer, large lights, etc.). But it certainly doesn't know what types of devices are pulling that current.
Talking about the 'worst case', the utility can see if you have something which operates on a fixed schedule, and then compare your consumption patterns from one month to the next. If they are actively searching for 'suspicious' patterns, they can definitely define and confirm those. Things like running your grow lights during daylight hours, for example, could make an average person ask why. But you really can't avoid pulling enough KWh of energy to grow your plants. All you can try to do is make it look like you are using all that juice for some 'legitimate' reason such as room heaters.
The very few actual instances I have even remotely heard of in which someone was reported by their utility happened when they tried to run huge light arrays, perhaps as much power as the entire rest of their home. Or if they frequently approached the total power for which the property was wired. That could indeed provoke a 'safety inspection' because it is legitimately a fire hazard. If you can, try to switch lights on about when you come home, run them overnight, then back off about when you leave in the morning. Or buy a second timer and make the lights turn on and off in two stages, which looks more like someone flipping switches. That will help make it look like you are using 'normal' appliances such as heaters, water heater, stove, etc. on a 'reasonable' schedule. But overall, this is not likely to be the clue which gets you busted.
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