Geez, that really looks bad. I hope everyone makes it out okay. Especially the passenger. We know that driving that fast on the streets is VERY dangerous. Not only for anyone in the car but everyone around.
People take very stupid risks behind the wheel of a high HP car, especially stupid people. I'm not saying Nick Hogan is stupid, but his actions most certainly ARE. I admit that, on occasion, I do the exact same thing.
Regardless, bashing him isn't going to do anything. I'm sure that, even with his "celebrity" status, he will be punished by the law. No doubt. Also, and I believe that Aaron said this, it does not bode well for the drifting community. Nick is involved in drifting, and that's probably what he was doing. Drifting on the streets is very stupid and very dangerous.
At any rate, I hope they both get well soon.