It actually looked like the ISF was about to hit that black car in front and so he tried to steer right (quickly) and back left again, but that caused him to go into an unintentional drift. Luckily enough he knew how to properly countersteer the car into a controlled drift and regain control.
Reckless as hell but kind of cool nonetheless. I think there was another video recently of an Audi (S4?) going into an unintentional drift and then snaking to safety.