Reloaded already told you he was just another "one" like 5 previous before him. The only way you can mean Smith is the one is if you believe him becoming so powerful, Neo and the machines must work together, then whatever. After Neo kills him, the machines had no reason to keep the truce, but did.
All other versions of the Neo's "one" were failed versions of the Matrix. Which doesn't make sense till the Architect pointed out that Oracle created the "One" program.. Neo was just an anomoly.. But he was neccesary to manipulate the Matrix. Smith became powerful because Neo freed him from the Agent program by copying his code onto him.
Neo is like a virus uploaded into a computer
The valid points this video made was:
The One was intended to restructure the Matrix... Neo didn't restructure shyt
Smith was the only one making copies of himself.. And reprogramming the city to make it rain in the final battle cause he quoted "You like what IVE done with the place?"
Smith calling Oracle "Mom"
Architect telling Oracle "You played a dangerous game" aka the lie about Neo being the "one"
shyt is deeper than rap
