It's not. It's more a warning based on a real event. Something people could learn from.
Found this posted with the video:
NTSB Identification: FTW83FA424 .
The docket is stored on NTSB microfiche number 21677.
14 CFR Part 91: General Aviation
Accident occurred Sunday, September 11, 1983 in PLAINVIEW, TX
Aircraft: PARTENAVIA P68C, registration: N29561
Injuries: 1 Fatal.
THE PLT WAS EXECUTING A HIGH SPEED PASS OVER THE RWY AT ABOUT 250 FT AGL. THE PLT THEN BEGAN A RAPID PULL-UP & BOTH WINGS SEPARATED JUST OUTBOARD OF THE ENG NACELLES. RECONSTRUCTION OF THE SEQUENCE FROM A VIDEOTAPE REVEALED THAT THE ACFT'S SPEED AT THE TIME OF THE WING SEPARATIONS WAS
220 KTS. VNE FOR THE ACFT IS 193 KTS.
IT WAS CALCULATED THAT, AT 220 KTS & AN 8 DEG NOSE-UP PITCH, THE 'G' LOAD AT THE TIME OF THE WING SEPARATIONS WOULD HAVE BEEN 8.3 G'S.
The National Transportation Safety Board determines the probable cause(s) of this accident as follows:
IN-FLIGHT PLANNING / DECISION.. IMPROPER.. PILOT IN COMMAND
OVERCONFIDENCE IN AIRCRAFT'S ABILITY.. PILOT IN COMMAND
AIRSPEED.. EXCEEDED..PILOT IN COMMAND
WING..OVERLOAD
DESIGN STRESS LIMITS OF AIRCRAFT.. EXCEEDED.. PILOT IN COMMAND
Contributing Factors
WING.. FAILURE, TOTAL
WING.. SEPARATION
Emphasis mine.