It starts out with "in 2021 we started a tradition to honor the legacy of Ty Jordan and Aaron Lowe"

You are right it started to honor them.

Now it says, "Now, this moment has become not just a tradition,...it has become a reminder to our Utah community to live life...To smile, to be infectiously optimistic"...

Now the part that matters most to me, "and to honor our Utah family, past, present, and future. So with love in our hearts we invite you to STAND. SMILE. and let your voices ring from the mountains to the heavens in a moment of loudness, exuberance, and joy."

After that it shows pictures of past Utes who have passed on. My father is one of those.
When I stand and smile and yell with love in my heart, I am doing it for my Dad, "to honor...Utah family, past"
I hope when I pass on the University of Utah is still doing it and that my picture will be lost somewhere in the masses of former alums, and that MY children will stand, smile, and with love, yell in remembrance of me.