The video 'We Shall Remain - Episode 5: Wounded Knee' depicts the 1973 Wounded Knee incident, where the American Indian Movement's actions and media's role during the event are shown. The government's decision to use suppression tactics instead of force led to a worsening of the situation and loss of benefits. The video highlights how even one incorrect step can have negative consequences and how the media's influence on people's thoughts and reactions is crucial in social movements.