With the rapid advancement of video understanding, existing benchmarks are becoming increasingly saturated, exposing a critical discrepancy between inflated leaderboard scores and real-world model capabilities. To address this widening gap, we introduce Video-MME-v2, a comprehensive benchmark designed to rigorously evaluate the robustness and faithfulness of video understanding. To systematically evaluate model capabilities, we design a progressive tri-level hierarchy that incrementally increases the complexity of video comprehension, ranging from multi-point visual information aggregation, to temporal dynamics modeling, and ultimately to complex multimodal reasoning. Besides, in contrast to conventional per-question accuracy, we propose a group-based non-linear evaluation strategy that enforces both consistency across related queries and coherence in multi-step reasoning. It penalizes fragmented or guess-based correctness and assigns credit only to answers supported by valid reasoning. To guarantee data quality, Video-MME-v2 is constructed through a rigorously controlled human annotation pipeline, involving 12 annotators and 50 independent reviewers. Backed by 3,300 human-hours and up to 5 rounds of quality assurance, Video-MME-v2 aims to serve as one of the most authoritative video benchmarks. Extensive experiments reveal a substantial gap between current best model Gemini-3-Pro and human experts, and uncover a clear hierarchical bottleneck where errors in visual information aggregation and temporal modeling propagate to limit high-level reasoning. We further find that thinking-based reasoning is highly dependent on textual cues, improving performance with subtitles but sometimes degrading it in purely visual settings. By exposing these limitations, Video-MME-v2 establishes a demanding new testbed for the development of next-generation video MLLMs.