It's a well prepped drift car with a "good" driver from what I heard. He looks like he tried to initiate a drift, rear end didn't come around, tried to power it around, that didn't work and he plowed straight into the curb/tree.
He obviously disabled traction control and ABS.
This incident spurred a lot of concerns at Qualcomm stadium in San Diego and there will be no more drifting events in their lot. Supposedly this hasn't affected SCCA/autocross relations with the site.