The difference between a hip hinge and a squat deadlift is that the first is more suitable for slow low reps for strength, it’s not an exercise well suited for high reps and cardio. That is, the squat style deadlift is more suited for high reps and cardio due to the safer position of the back and involvement of a larger muscle group, the quadriceps.
The hip hinge puts the focus on the erector spinae, gluteus maximus, and the hamstrings (there is more but these are the basics), whereas the squat style puts more emphasis on the quadriceps. The later is also an exercise you can do slow and with very heavy weight but on the flipside, it’s also well suited for high reps at a faster pace.
In the video, the deadlift is performed with kettlebells, but a deadlift can be performed with any weight, barbell, dumbbell (hardest on flexibility), kettlebell, etc. Contrary to popular belief, a deadlift does not have to be performed with a hip hinge. Because the conventional deadlift is performed with a hip hinge this is believed to be the only way to deadlift by many, however, a DEAD LIFT means lifting a weight that is dead, not moving.