Can't tell from the vid where the intakes are...gotta be huge and netted/filtered...a rock or bird gets sucked in and things get dicey at 300 mph....that's a great project, probably hugely popular at drag tracks and county fairs...
Shockley is the same family that has "Shockwave" a jet propelled semi truck. I've seen it do it's thing a couple of times. And it will go 300 mph, just hard to get a sense of it on a wide open airport runway.