Personally I think it's great! But totally fake. I would suggest someone made a shark shape, hydro-dynamically considered, that was pulled with a line via a pulley system tied to the pier stanchions. A powerful winch, sufficient to pull the 'fish' to which the surfer dude was connected at a believable speed - the surfer letting letting the rig go as the run ends. You'll notice the 'fish' is moving towards the shore always, apart from the start where the first tug brings the shape to apparent life. Left to right always and shoreward, at an obtuse angle perpendicular to the direct of the waves. The pulley system being tied off perhaps at low tide to the pier and via whatever entanglement to the winch, which would be onshore.
The 'beef on a stick' beginning, is part of the set up, it is well edited, everything you see and hear is very well done - quite believable. Don't go believing what you see now, or believing what you hear - especially together in this day and age! Fool me once......!
Stay alert, don't believe your eyes every image has a purpose! 
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