You might want to check out the DSM-IV-TR, Diagnostic and Statistical Manual of Mental Disorders for a better understanding of the difference between the two.
Thanks for the youtube video; it was really interesting.
From my understanding, dementia and schizophrenia differ in etiology. Dementia can be detected in testing such as mri's and psychology testing as well. Schziophrenia is harder to 'see'. Dementia is generally untreatable, but schizophrenia is treatable. Schizophrenics generally develop their first break in their early twenties, adult onset dementia is much later. Dementia concurs with diagnoses of alzheimer's, brain injury, stroke, etc while schizophrenia stands alone.