There's actually 3 more videos of this kid. There's one where his brother betrays him in an online game (what I'm assuming is the above), one where they give him a shitty, beat-up truck for his birthday, and one where his brother (the cameraman) insults his ability to play guitar. The last one leads me to believe some of this is real, because they smash the guitar at the end, but they could just be stupid, rich white fucks.
After looking at all the videos, I think there not faked; however, the kid is egged on a lot. Also, they do seem like rich white trash.