This appears to be footage from some documentary that was being filmed during the 1980 Mr. Olympia
There is quite a bit of video I've never seen before and it also includes guest posing by Reg Park and posing and lifting by Bev Francis. They also show all the judges score cards at the end which I've never seen before.
Remember seeing a VHS recording of this with my cousins when we were kids. It was originally supposed to air on TV, but then they cancelled it.
Being a huge Arnold fan at the time, everyone I knew felt that Arnold did not look his best. We (just kids at the time) felt that Mike Mentzer should have taken the win. I'm sure there are arguments against that, but to us he looked a bit better. Looking back at the reality now, by the time Arnold competed in the 1980 Mr. Olympia he had acted in about 9 projects (most movies and a few TV shows). His next role (after the Olympia) would have been Conan the Barbarian and so a win at the Mr. Olympia with consequent magazine covers serving as marketing was almost too well played. Still, for what it's worth, Arnold was to the Bodybuilding world what Hulk Hogan was to wrestling. Any time people heard Arnold was around things got 10x more exciting. He was a HUGE deal in the industry. Every gym had a poster or two of Arnold.

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