Say I have a short video and want to play the video in a game scene, but I can't use the MovieTexture for whatever reason. Is it technically possible and feasible to dynamically load images (in a flip book fashion) in order to emulate a video being played in a scene?
It is possible, the limitation is not in the software. Depends on the resolution of the video and the total amount of frames, it could use a lot of memory. The reason a video is not saved as collection of jpeg's or png's is compression.Raw video data in a resolution of 512 x 512 and a frame rate of 10fp that lasts about one minute would take about:
3 bytes * (512 * 512)res * 10 fps * 60 seconds = 500 MB
That does not sound like a reasonable way to handle it.
If you had only 3 seconds of 256 x 256 a the same rate, it would still take around 5 MB so I would only use it as a workaround in cases where I felt it was necessary.
Once the raw data is in memory, it is possible to display it as a texture.