If that is genuine, then it looks like a significant advance in rocketry.
Very interesting. Initially I suspected that it wasn't genuine either (oh, such cynics we are!) but I've changed my mind. It's quite a fascinating achievement - well done to their team. Importantly though, it's not an orbital launch vehicle, but a sub-orbital rocket - the naming of it as the 'New Shepard' rocket was the big clue as soon as I saw it (look up astronaut Alan Shepard for the reference if necessary). A sub-orbital flight is - crudely - a big firework that goes straight up then comes straight down rather than going around the planet in orbit. As the CGI section of the video suggests, I wonder it's going to be any practical use other than for a very expensive (but doubtless great fun) tourist jaunt.
If we're going to start doing anything significant off the Earth I feel that the next steps to pursue aren't rockets but are high-velocity lifting bodies akin to SpaceShipTwo that Virgin are working on, and the BAe/Rolls-Royce HOTOL concept. The Space Shuttle was a big step forward - going up like a rocket but coming down like a plane. We now need to solve the "going up like a plane" bit...
Maybe the Top Gear crew can stick another Reliant Robin on it and pop Chris Evans into orbit ....!
Sapiens qui vigilat... "He is wise who watches"
It'd better be genuine -- otherwise, my father's been wasting his time....
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