Drifting around like that isn't the fastest way(DOH!) but having that kind of car control means you become a better driver in (wet/slippery) conditions when you need it(when oversteer occurs all of a sudden) and you know how to react to it.
How many(and I mean too many) experienced amateur drivers are surprised by rainfall/slippery/wet conditions and slip/slide/crash their cars unintentionally.
I can make a bold statement that Scandinavian/rally/WRC drivers in general have better car control than 'the rest', but I won't do that.
And it looks cool too!
Cheers
Robin