Rio 2016 logo: creation process

When we want to create a logo, the most important thing is to get a great one and to spot on.
In this video of the preparation of the logo of the Rio 2016 Olympics you can see this personal satisfaction when a job is well resolved. Everyone involved squander happiness and excitement when talking about it.

According to their creators, Tátil Design, the logo is an abstract symbol that simulates people holding their hands with the others and dancing, aesthetically pleasing capturing the spirit of Rio. It has three colors representing an archetype of the city, the yellow sun, the blue water and the green forests. The forms also have a symbology, the reliefs are a representation of the topography of the city.

What do you think about it? Does it identify the Olympics?