I own both. So, I'm just the guy you want to talk to......The Urika is one of the best all around shotguns made and I will never sell mine. If you don't need a 3.5" chamber the Urika is a fantastic, soft shooting sporting clays, skeet, trap or hunting gun.
I bought the Xtrema2 last Saturday and had it on the clays range shooting trap, skeet and 5 stand, Sunday and Monday. It did a fantastic job as well. I bought the Xtrema2 as a waterfowling shotgun and my expectations of it as an all around are not nearly as high as they are with the Urika.
Both fantastic, reliable guns. I think the Urika edges the Xtrema2 out for value and over all usability status.
I don't think the Xtrema2 is hype. It is a great, soft shooting gun with a lot of features designed to appeal to the waterfowl hunter. BTW: That video is the shooter, not the gun. It cycles faster than snot down your nose on a cold morning. But, I wasn't making those kind of shots this weekend.
3.5" shells are still pretty stiff recoiling as well. 2.75's are very soft though. The posters that say its not worth it are those who still believe you can't use anything but an 870 pump in cold weather. Or, they wouldn't spend more than what an 870 would cost them no matter how it shot. They're stuck in an 870 time warp and are hopelessly lost forever. (Not that there is anything wrong with Remington or the 870.)
Here is my Urika.