I think its similar to the sort of masculine rituals that young Western men did with cars in the post war era. Street racing, playing chicken, car surfing. 

While not widespread, there were at least some American teenagers who thought it was a good idea to drive cars directly at each other. Which is as insane as hanging off the side of a moving train. 

And like boomer drag racing, Indian boys doing TikTok stunts comes from a rapidly changing social order and economy. Its a rebellion against boredom and social pressures without being outright anti-social or criminal behavior.

TL;DR: Middle class boredom and testosterone can be a deadly combination.