It's something else isn't it?
The thing it that I believe that there are more technically accomplised demos, for example Andromedas demo is really good, I'd guess that the code in that demo is more technical than in Debris, but ffs it's amazing, they increase the size limit for submissions and then Farbrausch take the piss out of it with a sub 200kb demo. So there are two things that make it own for me, firstly the tiny size of the demo considering what it does, but more importantly the direction is what makes it a worthy winner.
Honestly I never had the feeling I did when I saw this for years. The last time I felt like that about a demo was when I saw Mental Hangover on the Amiga for the first time.