It would seem that way at first glance, and I would probably agree with you, except for one thing. Watch it again with a critical eye. Notice the ground doesn't seem to be moving beneath him very much faster than normal. He is making a lot of smoke and noise, and having a LOT of fun, but he isn't really going anywhere... fast.
When I went through my first police academy driver training in Jan. 1987 at the Ky. law enforcement council department of criminal justice training facility in Richmond, Ky. I took a worn out 1980 Dodge St. Regis around their driving -*test*-('") track for a perfect score of 100. Only I scored 100 for a dry track time while running on 1 1/2 inches of ice. I did this by using smooth control and shuffle steering. Two others in my class of 46 also did this. One of the other two had learned these handling tricks as a safety officer for Lexington. The other and myself both learned them from our respective brothers who were already members of the Lexington police.
When we graduated from that academy we then had to go through Lexington's own academy. Lexington's driving instructor set up a demonstation of these techniques where the Late Mr. Neil Bonnett of Nascar fame "ran" from him. Mr. Bonnett used our then fleet manager's 1979 Dodge Aspin with a 360 4V that had been built to run and handle. That fleet manager was a rally racer in his off hours and knew how to tweak a car for handling. Our instructor took his issued run of the mill police package 1984 Ford Crown Victoria loaded down with all his required equipment and "chased" him. Mr. Bonnett pushed the Dodge as hard as he could, Drifting through turns, and accelerating hard coming out of them, keeping the pedal down most of the time. His driving looked very much like what was in this video, a lot of burning rubber and high revving. Our instructor never barked a tire and never got more than three car lengths behind. This continued for some ten minutes until Mr. Bonnett lost control and broke the left front lower control arm out of the Dodge when he hit a curb coming out of a turn. Our instuctor got the Ford stopped, unbuckled his seat belt, got out of the car and was on Mr. Bonnett's door with "weapon" drawn before Mr. Bonnett could get unbuckled and either run on foot or "shoot" it out. They repeated this two more times later in the day with Mr. Bonnett using our fleet manager's own rally race car and the results were pretty much the same all three times. Police three, bad guy zero. A few years ago in an in-service class I got the opportunity to "chase" this instructor. By using the techniques he had taught us I kept right on his tail until he had to give up (Maybe one day I'll tell him that since I was equipping our cruisers and had built my own it was tweaked just a touch.)
I've been in some pretty interesting chases. Some were no longer than a few feet before the bad guy wrecked, bailed out, or gave up. Some lasted well over an hour and rivaled anything seen on film. I'v had 3 cars just plain outrun me on the interstate but I can honestly say that I've never been outdriven. I've been witness to a lot of wrecks, and never scratched my cruiser. (Unless I count the one time a driver tried to dump the roaches from his ashtray and pelted the front of my then new '90 Ford with his spare pennies at 95 mph.)
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The easiest ones to catch were always the ones who couldn't, or wouldn't, control their vehicles.
Besides, the object for the police is not to "catch" the bad guy. But rather to keep up with him without wrecking himself and be ready to take control when the car chase ends.