You don’t need to watch the video. Tom Scott/None of the interview subjects ever point out how fucked this is, but basically the story is rich sadists would put coins in boiling water and then throw them at poor children to watch them endure injury for small amounts of money as a form of entertainment.
Ah, western culture
Edit: I watched the video and the op actually does misrepresent it. Both Tom Scott and another interviewee both separately mention the origin of it. Also, I thought it was going to be folks just pegging pennies at each other on street corners, but no it’s a one day festival that people willingly participate as Pennie’s are tossed from balconies in an organized manner.
So although the origins are shit, it doesn’t seem to be the worst thing. The main issue I can see is safety. Tom Scott gets hurt at one point, and at another says “I hope I don’t get hurt.” You can see a couple shots of people covering their heads in the crowd, and Tom Scott also notes one of the throwers is not tossing pennies but rather throwing them down on people. One of the interviewees even says “we just have to hope nobody gets hurt.” So sort of fucked up, I probably wouldn’t participate, but not the worst thing that exists