You say that "cp ~/.local/share/Trash/videos/my_vid.mp4 ~/Downloads" gets the response "cp: cannot stat No such file or directory".
Code:
ls -l ~/.local/share/Trash/videos/my_vid.mp4 # I expect this says No such file
cd ~/.local/share/Trash/videos/
ls -l
and look for odd characters or spaces in the filenames. the "ls -l" will show you how to escape odd characters.
And it occurs to me that another possibility is the the "videos" are broken symlinks - links to real files that no longer exist. Again"ls -l" will show you if that's the case.
And to answer your original question: No I don't think it's a sign of a failing hard disk or even a corrupt disk. I think it's probably something simple like wrong filename (case, odd characters) or maybe broken links.
EDIT:
tea for one points out what the problem almost certainly is (in the next post). I deserve a slap for not noticing. Doh!
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