Bands accept or reject players for all sorts of reasons, sometimes you simply aren't the right fit. You can't let it discourage you or take away your confidence. I would pose the same question you ask here to the band and ask for an honest detailed appraisal. They might tell you exactly.
I'll just give you harshest feedback and hope you don't take it personally, but just as a way to maybe improve some things.
-I don't like the video prism effect.
-For most styles of music your demo would be considered "overplaying", unless it is a fusion jazz band.
-There is no rhythmic context, so the band can't tell if you are able to follow a drummer.
-You don't look like a rockstar.
-You are staring at the frets.
-There is no song, just noodling.
I would do this instead.
-Pick a band that they are most like and dress up like a member of that band.
-Take a photo, not a video. Use the static picture with the audio.
-Play along to one of the band's songs or a similar band's songs and mix your bass hard Right and the original hard Left. You can also play it in a stereo in the room in the background if that is easier for you.
-Make sure you use an instrument "that looks the part" for the band.
Again I don't know the style of music you are auditioning for, but you need to look, act and play the part. The audition is about much more than your playing.
Hope this helps, seems like you have good chops, so learning how to audition will be a useful skill for you I think. Good luck!