@lewm After I showed the engineer the video, he remarked that the bearing is a single point oil bearing. If I remember correctly, he mentioned that the oil is what acts as a surface for the tension between the shaft and the walls. I believe he mentioned that the shaft should not be that tight to interfere with rotational ability.
I believe it was also mentioned it is somewhat like a cam shaft sitting in an oil bearing of a car. He noticed the fact that the point was diamond hardened, stating this was a necessity for longer wear and that the precision of a reported 5 microns was also good.