Traction control is an amazing thing, but even it can't overcome the combination of wet weather, rear wheel drive and a sudden turn. This M3 crash is solid proof of that.
It looks like the driver gave the car a bit (or maybe way) too much throttle as he/she changed lanes. Miraculously, the crash seemed to clear other motorists, although we're not sure how the M3's pilot fared in the rollover. The video's YouTube poster claims that no one was hurt.
(Hat tip to George!)