I thought that was a winch that they use to raise and lower the shark cages.

Lucky you, John, to be able to touch and pet it, and lucky us to have the opportunity to gaze at it, even if is via photos. Thanks for posting!
I tried to watch that video but had an aneurism halfway through it.
And he didn't even disassemble the break mechanism in the spool.

The 2 reassemble clips were reminiscent of county fair days and trying to hold onto the greased pig.

That dude doesn't scrimp on grease, that's for sure. I don't think you need need to go to quite that extreme on the Kovalovsky, though.
BTW, don't mix up or lose one of those screws.
Tom