No tinfoil hat. I think it's possible, but I don't think this one is real judging by how the refreshing of the screen looks. I'm sorry, but I've just never seen a Windows machine (virtual, emulated, or real) refresh the screen like that. If it's real, where can I get the app? Where's the tutorial? Where's the detailed explanation? Give me just one of these and I'll believe it. Better yet, show me a video of it playing video in Windows Media Player. I'll be able to tell you instantly if it's fake or not.
Must be awfully lonely not believing anything.
All they had to do was create a Bootcamp-like app (for ARM support), then interface it with an image of Windows 95. I'm no programmer, but I think it's quite easy for anyone with knowledge of ARM processor's logic and a bit of programming skill.