It seems too elaborate for a hoax, and too widespread. In minutes I'm able to find acclaimed hobbyist replications in US (above), Spain, Germany, China, Australia and Canada. An expensive scam? Or just people fooling themselves? On the plus side there's certainly even more people building in more countries, on the minus side many of them - including the inventor Mr. Keshe from Iran - seems clearly deranged. Keshe has for instance predicted a number of climate disasters which should have happened years ago. But madness might not always be a drawback. The mad genius Nikola Tesla was for instance extremely prolific. A tiny treat of his unique insanity is one of the most remarkable phobias I've ever heard of: the fear of pearl earrings.
My guess on the Magrav reactor is that it's nonsense, but regardless one invention or another is soon going to take us into the energy age. The idea of free energy removes the gravitational restraint on us humans. Why should I pilot a car to work when a drone is so much faster and funnier? The 60's future - where people work for leisure and fly instead of roll - will be upon us in a couple of decades.