It's real. And it's a bad idea to advertise it. This isn't Brawl anymore, you're modding the latest Smash Bros. games.
Be smart, develop SM4SH Minus quietly, and only release it when it's done. Videos like this can make you a target for legal action.
Don't end up like Project M. It would be a terrible shame if you got a Cease & Desist letter (or worse) before you even finish Brawl Minus.
I've seen too many fan games full of potential go to waste because they advertised their work before it was finished. And for what? Some good PR? It's just not worth it.