That maneuver, a slow high AOA fly-by, is perfectly normal for F-18s in airshows from what I've seen. Judging by the vid and the onlooker interviews it looks like the right engine just failed at a really bad time, leading to a stall. Maybe a bird ingestion or something as the onlookers reported "sparks flying out of the engine"? Good thing everyone got off more or less uninjured.
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