I have noticed that there was more emphasis on the graphics and resolution of the device for the first half of the video.

I watched a program on BBC World and they highlighted NVidia managed to make specifically for mobile devices, an entire 3D graphics processor (yes, the same as the full-sized ones for the desktop) as small as a thumbnail! On top of that, there is also a sound card in that little thing!

Therefore, the graphics processing should not be a problem, and Photoshop can indeed run if NVidia has their way.