I've heard some artists say music video budgets are low today. Probably in relative (inflationary) terms, and not applicable to top-tier acts and acts that labels are trying to 'break' on MTV. (For example, look at videos with storylines by Jessie James, The Ready Set, and Panic! at the Disco when they were new.) The music industry isn't exactly doing well, so it makes sense.
Anyway, another with a great storyline, from a time when videos and music were going back to basics.
Guns N' Roses - November Rain - YouTube