I have young musicians coming to my shop multiple times a year asking to shoot music videos for $300-$1000. When I tell them we can't do it for that budget, they almost always pull out articles like this one and say, "but look what these guys did!" At which point I have to show them the fine print about friends in the industry, deals for equipment, working for credit, etc.
Can a gorgeous music video be shot for $1000? Of course it can. A music video can be shot for nothing but food money (or not even that) if you can find a friend or someone willing to donate time and gear. But this is not a workable scenario for a professional trying to make a living.
I would love to see two "real world costs" budget breakdowns for this music video, one plugging in the actual rates cast, crew, rental houses, etc. would normally charge if they were hired by someone off the street, and one showing everyone getting paid at scale. How many people are involved? Exactly what equipment/personnel worked on the shoot in post production? How much time was involved in planning/rehearsal?
This would be a more realistic look at the costs involved, and could then be contrasted with the "but, if you can get freebies and use your connections and are willing to work for free, this is what you might spend" version of events.