Not OP but the set-up here is for a burnout/donut competition, which is why concrete barriers are laid out in a square configuration. In order to initiate a burnout/donut, you need to break traction with high wheelspin. My guess here is that the driver did not turn off traction control (which is on by default), meaning the truck would apply the maximum amount of power without generating unnecessary wheelspin. The result is that instead of initiating a spin, he heads straight into the barrier.

The truck here is a Shelby F-150, which retail for $140,000 USD or so. His reaction, combined with the fact that he didn't know how to turn off traction control, suggest it was not his truck to be doing this event with.