I'm sorry, that kid blatantly can't play for shit.
The guitarist, that is. I didn't watch the other video, I was too disgusted by the first one.
Here's what I'm thinking:
1. That kid doesn't look eight years old to me.
2. Speed is not everything. In fact, speed is hardly anything, especially with guitar playing. If that kid can shred shit up like that, fine, but try and join a band and you don't know how to play a seventh and you're fucked.
3. That sounded like shit. All he was doing was scale exercises really, really, really fast. It's better than another video I saw of an alleged eight-year-old, who couldn't even mute the extraneous noise of his strings; at least this one could. But that wasn't soloing, that was wanking. It sounded like crap, there as no melody, just notes stapled together.