it is real, dont doubt,
it costs around 450-500$ all together!
flies 90 minutes alone or 65 minutes with brushless gimbal + gopro + fpv gear (tested!)
u have to solder together 16 li-ion batt in one, so u have 4S4P setup, but even without it,
it flies over 50-60 minutes easily on Li-Po,
key is in efficient setup, big propellers and low KV motors, and very light frame, under 100grams!
build log: (use google translate)
http://www.flyfreak.net/multirotor/quad-ltf-%28long-time-flight%29/
Ferdinand's setup:
12mm carbon tubes (1mm thickness) base frame (no standard centerplates, just build a cross and stiffened it up with CF and small CF pieces.
5010-14 rctimer.com motors 360 KV
17x5,5 rctimer.com props
10A Plush Esc
Naza
4S4P Panasonic NCR18650b (770gr) 13600mAh nominal LiIon (LiPo works great too, but keep weight same=800gr=a bit less mAh=bit shorter flight time, but much cheaper and faster recharge, remeber, LiIon charges for 4-6 hours!)
AUW 1570gr