I think to make this work a certain level of curation or QC would be needed. If it's just randomly stringing up the favorite bits of users, it will be nothing but another form of compilations to everyone else.
On the other hand, it seemed to me that there might be some demand for random play of videos just to discover stuff they have never noticed before. This is something you could generate automatically: Just take 30 sec with the most view time of any video and put these parts in a randomized order. While watching, you can either skip next or jump to the full scene. In the next step, add some level of customization, like restriction to or exclusion of categories, studios etc.
