The test is comparing two stoves with different internal designs. This is not fraudulent unless the intent is to fool the viewer.
An alky MUST have the alcohol boiling to get the flames out the side. No boiling, no pressure, no flames. That applies to any alky.
The White Box stove has the alcohol touching the bottom surface of the stove: sitting on the bottom. When you add cold water, the alcohol at the bottom is cooled to below boiling point. Since this is most of the alcohol, the stove dies.
The Cobalt stove does not die. Flames continue coming out. Therefore the alcohol cannot ALL be sitting on the bottom; some of it must be up the side and near boiling, to create the vapour and the pressure. This is a simple logical deduction (Jim). This can most easily be done with some sort of internal wick.
Comment: this much was obvious from the video. So then I checked around to see whether the Cobalt has an internal wick as predicted. Yes, it does.
Which is better? First, define 'better'.
Would the user normally wory about floating his stove in a bowl of water? Doubtful.