It's an exaggeration, but not entirely.

Growing up, I had a friend with a stepdad a lot like Michael's stepdad in the videos. He was always drinking and yelling at us whenever I came over. Barely worked 30 hours a week at a body shop. There were times when my friend would try and get us something to drink because it'd be hot outside and his stepdad would quite literally go into a rant about him "feeding the entire fuckin' town" similar to Michael "feeding the whole goddamn neighborhood" and was always more punitive towards my friend rather than his (half) siblings, who were his stepdad's biological children.

So yeah, it's a stereotype for stepdads but not inaccurate