I'm sitting on the fence on this one at the moment

Nah... not really... it's more Government propaganda....
I think it is a worthwhile add for new or returning bike riders and should be part of a licence course. Cemeteries are full of people who were in the right.
If I ever have an accident (touch wood), despite who was at fault, the first thing I would ask myself is.... what could I have done differently to have avoided it.
I reckon this is the point that the TAC are trying to promote with this, but they missed the mark.
Where I believe it falls over, is that cage drivers will see this as an excuse to justify their actions, people usually look for someone else to blame.
"I might be in the wrong, but if the bike wasn't speeding, blah blah blah"........
I reckon they could have done the same add, without the 8kph speed thrown in. Have a bike doing 60 in a 60 zone and make the point that doing say, 55 in that situation results in a near miss....
I also agree It undoes a lot of good from previous campaigns that have more cages than before.. "looking twice for bikes" etc etc.......
my2cents