New truck may have gotten screwed?

With the engine at an idle it looks like a fair amount of blow by to me too. Remember its not a new truck and with the kind of work you have in mind for the truck it will probably run a long time like that though. I would put the longer hose on it to get the outlet closer to the ground like was earlier suggested.
You will know if its too much when you are driving at night pulling a good load where you are pushing some boost and someone comes up benind you, when you look in the mirror it will look foggy outside.
Good looking truck for what you paid for it.

 

I've seen worse and better...if it keeps bothering you check the turbo. From the video it looks like a steady force of blowby. It's not puffing like it usually would when you have one cylinder damaged. You could have some unwanted crankcase pressure bypassing through the turbo drain tube into the crankcase.

 

looks normal to me. I have seen some Detroits smoke like that with only 100,000 on the engine

 

My Kenworth smoked the same way. The first time I noticed it, I pulled out in Chicago traffic, went a couple blocks, stopped for a light, and the smoke just rolled up over the windshield from under the hood. I thought it had caught fire but it was just that tube smoking. Mine did it on and off. Sometimes it'd blow smoke all over and most of the time there was nothing noticeable.