I watched the video again, of Walter veneer grafting.
What I had missed, at first, was his carefully pointed out preference for a two-beveled paring knife, slightly dull, to do the cuts on the rootstock.
One can see some dull-knife-produced sloppy fibers (of phloem?) from inner bark. This non-sharpness has apparently aided in not cutting into the wood, and more importantly, in not scraping off much of the cambium, or even all of the phloem and phloem ray cells --- the "juicy area". So pretty much the whole area down the middle of his cut on the root stock is receptive to meeting up with the cambium (and possibly with ray cells, per some in India) of the scion.