I have one and its quieter than that in forward and makes some noise in reverse.
Has it been run much ? it may need breaking in . It sounds like gear train and motor noise.
They did use a cheap motor in them and they make a fair amount of noise.
Be sure gearbox isnt touching against frame.
The brass boiler shell doesn't absorb sound like diecast locos .
I have put blue painters tape on inside of boiler shell to deaden sounds of gear train.
It is a nice loco and worth a little tinkering to quiet it down.