What you are watching has not been slowed down. It has not been edited to make it more enraging, nor more hilarious. This is the qualifying for the World Touring Car Championship race at Salzburg.
I'm going to try to explain this, but bear with me as it's going to get weird. In WTCC racing the fastest qualifier is often not the car that finished first, but the car that finished second. This is because the car in front is bearing the full force of the air in front of it, whereas every car that follows is given a clearer cut through the air in a process known as "slipstreaming," or "drafting" here in the States.
The desire to be in second place in Salzburg led to a positive feedback loop of racing crap, as a driver would get in front, slow down in the hopes that somebody would pass him, and then the cars behind in turn slowed down so that they wouldn't have to be the one in front.
This children's game lasted until the speeds got down to 32 kilometers per hour.
That's 20 MPH.
The video below gives a good explanation of slipstreaming and the horribly weak excuses from the so-called "racing drivers" themselves:
This is high treason against the spirit of motorsport. Stewards recognized this and called 14 of the drivers in for punishment for this violation of the rules, with scoldings as high as €6000 and 12 places on the grid for one Gabriele Tarquini.
I still don't think that's high enough. They should all be taken out back and have their drivers' licenses revoked.