Launch of New USS Hornet Number 8 Aircraft Carrier

The video introduces the new aircraft carrier Hornet #8, sponsored by Mrs. Frank Knox at Newport News, VA. It highlights the legacy of the old Hornet, which played a crucial role in the bombing of Japan and other significant battles. The old Hornet's proudest day was when it launched bombers to Tokyo. The video also recounts the final days of the old Hornet, which went down in glory. Finally, it celebrates the birth of the new Hornet, continuing the legacy of its predecessor.

Describe the legacy of the old Hornet as mentioned in the text.

What does the phrase 'Long live the Hornet' signify?