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What you see is real, but you can't see it this way with the naked eye. It is the result of thousands of 20-30 second exposures, edited together to produce the timelapse. This allows you to see the Milky Way, Aurora and other Phenonmena, in a way you wouldn't normally see them.
In the opening "Dakotalapse" title shot, you see bands of red and green moving across the sky. After asking several Astronomers, they are possible noctilucent clouds, airglow or faint Aurora. I never got a definite answer to what it is. You can also see the red and green bands in other shots.