I like his line here too. I don't think we can consistently take this line as evidenced by the V making note of Hero's hands the rest of the session but in live 1/2 that flop does hit a calling range much harder than a PFR range. With the exception of AJ it would be really hard for V to get to the river with a hand that beats us most of the time. The river went x/x here, which I think is fine. If we missed, ripping the river is a separate discussion, it probably depends on what card actually fell and a lot of other info so I wont get into that. I think in general players over C-bet live and also over fold to a x/r. So we are getting tons of AK, AQ, KQ to fold flop and getting some TT and 99 to fold turn. Given our line OTR I think he's correct in that it's tough to get called by worse and since reads are limited we can take our showdown value.
And to OPs question about balanced play here. I think think this play is both balanced and exploitative so from either perspective it works well. Even hands like KK and QQ will have a hard time doing anything other than what V did this hand. We also probably get paid on the river if we hit our straight or flush in a lot of cases.
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