Update: 27 Apr, 2018: It seems that, despite the claims of the local council and a few who have commented on this video, this really was an incident worthy of CAA's attention. Read page 4 of this issue of the CAA's safety magazine Vector:
Two manned aircraft, one piece of airspace -- what could possibly go wrong?
Strangely enough, I spoke to the airfield operator (The South Waikato District Council) just a couple of weeks ago about exactly this safety issue at the airfield and my concerns were dismissed by the Mayor.