There are a lot of questions in my mind. Was this an impulsive stunt by a couple of people with Stearman (Steerman?) money? Was there some kind of intent here? Was the lead cognizant of his friend's position? Did these guys have any formation experience, and, if so, wtf? If this was a training event of some kind, what kind of lesson/course planning was used?
None of this is going to come to the surface here or in video comments. It'll take interviews with people who are lucky not to be injured or worse.