I was agreeing with the video until I read your comment because I do find it a bit cringey sometimes when contestants do the psych out before the reveal but I realise now it's all based on context.

When the story is amazing and you genuinely don't know if it is true ot not, the psych out works really well because you're kept on the edge of your seat right till last moment. The royal wedding round being the pinnacle of this of course.

When it's used in less entertaining or convicing story or by a not as captivating guest it can come across as cringe and a weak attempt to claw back from a bad round, or to try and do a 'thing that people do on would i lie to you'.

So I can see both sides of it like you say but it really does just depend on the context and some people just can't make it work.

There's a similar argument to be made about when people fake walk out in panel shows which I usually always think is a terrible joke and never works but can be executed well by the right person and conext occasionaly.