The video was impressive, but the car is not practical.
From what I've heard, it used a suction fan to keep it on the ramp. If you looked at the video and thought the car was going too slowly to maintain its grip on the loop, you're probably right.
And the thrusters that flipped it and let it hover were likely compressed air.
Practically speaking, a flying car that kept airborne by pure jet thrust like that would empty its entire gas tank in a couple of minutes. So in my esrimation, it was an impressive special effect.
No doubt Musk's team could pull a real one off someday, though, if anyone can. Wasn't long ago landing a discarded rocket engine on the launch pad was pure Robert Heinlein stuff.