What you're looking at is a 250-class quadcopter (or drone, or UAV, or r/c copter) with my transmitter and FPV goggles. What all that means is that eventually, when I get good and comfortable with flying it, I will be able to start zooming around and possibly racing like you see here:
I'm still very much a noob at this, and a loooong way from being able to fly like what you see in the video above. Still, with the weather getting nicer, I'll have time for more practice, and I get more capable and comfortable every time I fly.
I built the quadcopter from parts, and that alone has been a huge learning process. The technology is still in its infancy, but there are dozens or hundreds of options available for each piece, and they all interact differently.