Is the video player application itself muted in pipewire? What's the output device set to?
You can check these things with an application like pavucontrol. Pipewire (and pulse) have a default audio device, but individual applications can set a different audio device if they want to.
Another great category of utilities for pipewire is virtual patchbays. If you're looking for something simple, helvum or qpwgraph are geat. For all the technical details in a GUI, coppwr provides a good experience.