This started for referring to a new trend or fashion overtaking an old one. So for instance:
Comedy is the new Rock'n'Roll
The idea would be that things you might have previously associated with being a Rock'n'Roll musician (money, fame, fans, attention) are now things that you get with comedy. So rather than aspire to be a rock star and practice an instrument, one might consider studying comedy to have that kind of success.
It's a sort of funny way of saying that, and the kind of person who "tells you what's cool and what isn't" in this way is an easy target for mockery. So the construct has been picked up in ever-more-absurd ways, as people try and twist it further.
Imagine if you and your friends are trying to make a recipe, and it called for butter and you only have olive oil. You might make the substitution, excusing it by saying "Everyone knows olive oil is the new butter". This doesn't mean that you think butter is out of style and no one "cool" uses it any more--you're making a joke by acting as if you believed that.
At this point, most all usages are for humorous effect.
Interjections like what the X and what on X are expressions of surprise or confusion, frustration or anger, resignation or nonchalance. The intensity more or less correlates to that of the key word.
As for the character in the video, I would paraphrase his thought as either:
I don't understand! Why do I need to give all this information?!
=Confusion.
or
I'm being asked to do too much!
=Anger.
His face suggests anger, but the context and the narrator's next comment address his confusion. Notice, by the way, that the narrator softens the "WTF" in a very predictable way:
You're probably wondering what the heck I'm talking about.
There are lots of ways to soften such expressions. Actually, WTF, although not easy to use in spoken conversation or likely to be understood by older speakers, is already softer than spelling it out.
Here are some more variations — a small selection of the many available.
→ What the heck? Didn't I lock that cow in her pen?
=Surprise. Quite tame.
→ What the hell, Richard! I thought I told you to stay out of this!
=Anger, indignation.
→ What the devil? Why, that's my briefcase in the hands of a street urchin! Catch him!
=Confusion and panic. Older British language.
→ What in the Sam Hill is that big shape on the horizon?
=Confusion. Certain US states.
→ What the hey! I guess it doesn't matter whether we hold the party on Saturday or Sunday.
=Nonchalance. Older US usage, very tame.
→ What on God's green earth are these lawyers asking us to do?
=Bewilderment.
→ What the f---! They scheduled three exams on Monday? FML.
=Anger, bewilderment.
One of my favourites, actually, is to simply omit the X altogether. The stress then falls on "what".
What the! Scaramucci is already out?
Best Answer
It means that some people are excluded from this offer.
When a company makes a special offer, such as "Enter a code on our website to get a discount", they might want to exclude some people. For example, they might exclude people who work at the company, or they might exclude business users of the service.
The exclusions might be geographical, the discount might only be available to customers in the USA. People from other countries could be excluded.
Or they might want to exclude certain types of order. Perhaps they exclude orders over $1000 or under $10. They might exclude repeat orders (so you can only get the discount once). A company might provide a platform for other companies to provide a service, as well as providing a similar service, for example, "Zazzle" provides cardmaking services, but also provides a platform for other stationary companies. The offers apply only to Zazzle products, not to the products of other companies that use the Zazzle platform.
There are lots of possible exclusions. Dor details you need to follow the link.