The short answer is no. Don’t think of it as an either/or choice.
Many of us are accustomed to going onto YouTube to find a video on how to do something. Plus, videos are easy to make. Just catch Phil on your smartphone as he demonstrates how to perform the PM on Asset X.
Now watch Bob scratch his head as he tries to figure out exactly what Phil is doing at a certain point. Or if (due to lighting) Bob misreads something on a label. It’s easy for videos to be confusing and incomplete, but the same can be said of written procedures.
If you use them together, however, each can fill in the “holes” left by the other. For example, your written procedure outlines the major steps so Bob can see them at a glance instead of having to fast forward through a video.
Tip: Use videos to “show” what the procedure “tells.”