I think the failure in parenting occurs way before this video is shot. Corrective action early can prevent the need for this kind of punishment later. You make it VERY clear from early on that you are the boss and that your rules will be obeyed. At the same time, shower the child with love and attention - two things children vitally need from parents.
You cannot tell a child "I love you" too many times. You cannot spend too much time with a child - especially when they're very young. When the child is secure, knows they are loved and knows their boundaries, they don't have these out-of-control moments where they act out to the point where you have to drastically punish them.
Raising kids is extremely difficult and very time-consuming. But it's still possible to do it correctly in this day and age, and it's still possible to have a good kid. I know tons of examples personally.