What makes this speech so compelling?

Purely from a communicator's point of view, this speech is masterful. The speaker even gets heckled early in the speech... and then spontaneously redeems it to make the point.  Masterful.  I'd love to hear your thoughts on WHY this speech is so cogent.
If video doesn't appear above, go here.

So what do you think?  What makes this speech so compelling?

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