It’s not a hoax; this technology has been developing for a couple decades or so. But it’s not a ‘cloaking device’ like in Star Trek. It uses micro etching to bend light selectively. The ‘cloak’ is a semi-cylindrical sheet which keeps the background in focus but redirects light away from what is directly behind it.
For all we know, our own military complex might already have this stuff and is using it out at Area 51 to hide top secret aircraft....or not.