Hugely impressive, indeed!
For those cynics with no R/C model flying experience it might be worth mentioning that Wolfgang Matt was flying a demo performance not vastly different from this some ten years ago at various R/C meets. OK so the heights were greater (not a lot!!) but the rolling circle, vertical torque rolls etc were all there. Similarly the Dutch Shadows (pulse jet team) were doing R/C fly bys at 300+ kts inverted and leaving fin scrapes on the runway! Given the huge improvement in radio gear over the last ten years the video wouldn't seem totally unlikely. There are some real aerial artists amongst the "toy aeroplane" fraternity