I think he has them rigged differently. Looks like a cork and a weight. I can't imagine rigging a natural bait dredge. Lots of work. But if you have the time and the bait...I am sure it works.
The trend seem to be going to those large Mylar ribbons with fish printed on them. Probably out of practicality. I have only use the rubber fish (paddle tails and molded ballyhoo types). They work well but can exert a lot of drag at higher speeds.
It is cool to see the fish approach them.
Here are a couple more
sandmanfishingteam1's Channel - YouTube
sandmanfishingteam1's Channel - YouTube