I would suggest that you can't determine if what Weinstein and others are discussing is "snake oil" unless you know what that subject is.
All that said, on the surface, it would appear that the starting point of their discussion is the physics of things that Navy pilots have seen that seem to be outside of their (the pilots) understanding.
That doesn't sound like "snake oil," does it? Just a discussion.
I read the transcript. Looked up the two people.
I’m asking you to explain why and what of this you take seriously?