I personally think you need to look at the analogy in terms of a schematic view; the sort of thing a lecturer might use to demonstrate a 1st order 'solution' for an elastic surface curved by matter.
Since, in my further opinion the videos from NZ successfully demonstrate several aspects of the Newtonian model, I congratulate the faculty for the eye-opener: spacetime is an elastic medium, distorted by the presence of massive objects.
Since you can represent a lot of Newtonian orbital dynamics (modulo the friction), the elastic sheet is just the thing to let local gravity demonstrate an elastic force in action. Notice in the videos the initial vertical oscillations die out, the sheet is then in equilibrium so mg = kx for the background. The experiments in the videos are using Newtonian mechanics in a clever way, to show there's a good heuristic in there, somewhere.
The bending of light rays from distant objects around the deformations, shows that the heuristic of a two dimensional sheet of distorted spacetime works for rays of light in two dimensions. We know this is true independently of coordinates, so it's just one sheet but there's a lot more of them.
The UOW videos are serious science, except with a constant g everywhere where you only need one sheet, so why not use one with the right k, and stretch it as uniformly as practical to give it the same tension everywhere?
I personally would like to see measurements of sound profiles, when striking the sheet with and without a massive object in the middle: what does the tonal response say about the tension, i.e. how well tuned is it?
I just realised another problem with the analogy, the physical model is a catenary 'minimal surface' in a gravitational field; initially it looks like it's loosely tensioned, the problem is fixed by assuming it's actually flat, the bending in the sheet is because it has mass, you need to factor this out of the model to get a spacelike sheet.