1. This video is originally from an anonymous Douyin account. There is no verification that it is associated with a real replication attempt, from traditional academia or citizen science. There is a previous video on the channel showing the partial levitation more common to LK-99, but it likewise has no particular evidence it's not just a flake of pyrolitic graphite. It is claimed to be associated with a specific person but no evidence is provided. There is no reputation to be lost if this is a fake.
2. In the video, while the effect dynamics look quite good for flux pinning, there is some really concerning artifacting on the alleged LK-99 piece while it bounces. Specifically, it looks like it may be attached to a taut horizontal string that has then been edited out, but they didn't successfully rotoscope over the parts very close to the alleged LK-99 piece during specific moments. This could just be a compression artifact, I have never seen one like this but apparently this is a capture of a capture by the time we can access it, and I don't use Douyin or Bilibili so I wouldn't have a lot of familiarity with what their compression artifacts look like.
Basically, I am pretty sceptical about this video in specific. I do think LK-99 is more likely than not at this point, but I also think it's more likely than not that this specific video is not real.
I also think it's extremely likely that as LK-99's profile raises and VFX editors get more familiar with what exactly a real video should look like, convincing fakes are going to be produced and go viral. The most common way this happens is that the VFX artist does it as an exercise and shows a few people without ill intent, but the video is then reposted by other people a few times until it reaches a wide audience who has no chance of knowing its origin. However, there are some scammers/influencers who are good with VFX and can fake a video themselves.
Basically, be a little bit careful about video, and things you should want are: the camera is moving around the piece and not static, the light changes during the video, the pieces themselves are moving, you see the pieces getting set up or finished later, and there's stuff moving all around the object to make strings less likely.