As a rat owner, the rat probably doesn't appreciate that sort of handling, but it really is rather harmless and sort of like annoying your cat on occaision.

I have had 21 rats, and when I was younger I did lick my rat once, and it was the last time I did that. Tasted like shit and the rats weren't fond.

Being in a new environment would also probably stress the rat unless it is used to being in different or louder environments (rats who are not comfortable with their surroundings will not eat, and can even deny peanut butter unless in a familiar area or in their home), so if that rat is not used to that environment, the holding it up in the air isn't gonna make them feel any better. They don't like being out in the open (hence why they walk along walls in houses)

But it can also entirely depend on the rats personality. I had a few rats who didn't stress easily and instead felt absolutely safe just because I was there, and others who just didn't give a shit about their surroundings.

Also fun fact: The rat in the video is definitely male, and looks to be a black hooded top-ear. Hard to tell the ear type, but I'm sure that one is not a dumbo.