1. It's like having your mouse on a tiny mousemat. As someone who once had a tiny mousemat, it works great for turn based games but anything real time is no fun at all. You can simulate this feeling right now by using a round beermat.
2. Something as simple as putting one tiny raised dot at each of the 4 main positions would make a huge difference.
I couldn't watch the entire video because of my connection but note that he did say it was in "legacy" mode, i.e. the game has not been modified at all for the controller and the controller has likely not been changed from whatever it's default configuration is. If you use a mouse or trackpad on their default configuration things will generally be difficult if they're not what you're used to. I've gotten so accustomed to the acceleration on my trackpad that there are many things I can do on it without thinking that I would struggle with on my trackball or laser mouse. I agree that this particular set up as they've shown looks very awkward. What could make it great though– assuming no modification to the game– is to treat it like an inverted ThinkPad trackpoint. If it feels just right and the acceleration is either customizable or perfectly tuned, I think it could be a lot of fun and avoid the trackpad/mouspad-too-small issue.
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I imagine this will come up during the beta and probably result in something close to what you suggest. Either a dot like on F/J keys or a small dimple.
Haptics don't allow for many touch instincts, like edge-detection and depth of depression.
It's better than no acknowledgement, but it's dramatically different.
As an exaggerated counterpoint: imagine operating a buttonless, flat "haptic" vibrating keyboard in a moving vehicle, and contrast with a conveniental keyboard.
2. Something as simple as putting one tiny raised dot at each of the 4 main positions would make a huge difference.