No, his rears just regained traction while he was still steered for drift. Instead of the rear-end continuing in the car's lateral drift right, it caught and transferred his lateral movement into a cornering load, sending him straight. Because he was steered right this shot his front that way and his back the other, and with a push from his rears from the remaining driveline inertia his rear tried to scrabble past his front.
Basically he went from drift to donut.
As Pinepig said, he lifted when he should've kept it planted. Just a second longer in the skid and he would've been centered.
Ultra high performance tires can really throw a car around.