Sort of. Everyone with access to a folder will be able to read the comments for files in that folder. Folders can be student-specific or open to a group.
If you would like your students to view and comment on a video privately, we suggest you ask your students to create their own folder in your course. When students create their own folders the default setting is private (only the course creator, admins, and student can add and view the content and comments).
To toggle folder permissions, click the person icon next to the folder name.

From there, simply change choose either "All" or "Private". If the folder is set to "All", then everyone in the course can access this folder. If "Private", you can choose who has access.
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