Help me understand these "crash" videos?

Johnny Mac said

#1, no I don't condone street racing, but I have built and owned 500-800 hp street cars since I was 16, so I have my fair share of stupid decisions, and close calls, but NEVER ONCE IN MY LIFE, have I EVER had one uncontrollably whip sideways like I had a busted axle. Are these just young kids with too much money that run out of talent? I see these videos with stock mustangs, c5 corvettes, etc. Tons of them.

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I'm wondering if it has something to do with the IRS that many of these cars are sporting these days? I had a 2000 BMW M5 and it could be a real handful with the traction control turned off. The solid rear axle cars I've owned have never been that jumpy. The back end may swing on my Cuda, but it seems like it is slow enough that there is plenty of time to react without panic. The IRS cars seem to really snap. Maybe exacerbated by the tiny sidewalls on the tires?