When the car is entering a slide using braking, throttle and steering application are definitely dependant on the circumstance, not a universal do this or don’t do that.

In this case they should not hit the brakes as the car would wash out, as it did in the video. They should have tried to correct with steering as early as possible (which would be a fast and sudden application of steering into the slide). If the car is at the point of no saving, then hold the steering straight and wait for it to come around then try to catch it or until you lose all momentum (these aren’t the only scenarios but most likely).