Cute idea, but completely impractical.
Only if you don't mind the paperwork the gov't has on you for buying a lower from someone else.
Probably easier than making an AK-47 from a shovel:
I agree to a point. Obviously it would be much easier to purchase an “80% receiver” for $80, or even a 20% receiver blank for $30. If I had some time to kill it looks like a fun project however. These days there are so many videos available that you can produce all sorts of interesting products yourself at home if you have the time.
The technique that he uses appears fairly complicated at first glance, but it really is not... He is just using standard techniques to copy an AR-15 receiver using a finished receiver as a pattern. I cast my own bullets and have experience with other more advanced foundry operations. Melting aluminum is quite easy and can be done with homemade inexpensive equipment. With a 3D printers and using the “lost pla casting” method, it is now easier than ever to produce detailed molds for sand casting which also takes very little equipment.
I think that he might have been able to save a little time by casting a blank that did not need as quite as much machining but there are other considerations when trying to do something like this so it is possible that his is the best method.
The lathe, milling machine and other tools that he uses can be expensive and take some know how to run as well. But most of the operations could be completed using a drill press with a milling vice and some other mostly inexpensive equipment.