My account of the sequence of events:
This was near the end of session 1 day 2, my first time in group 3, third overall track day, not educated enough to pay close attention to my gauges, not taking cool and hot laps, full send the whole time. Car was hot, oil was thin. Coming around turn 11, oil pressure drops momentarily (as per video), accelerate through 3rd, through 4th, shift into 5th and coast into T14. Engine fails while coasting, unbeknownst to me (you can identify the moment of failure watching the oil pressure gauge), oil spews into the engine bay, onto the track, and onto my rear tires. Downshift input and oil on tires kicks my rear end out to the right sending me off track and into the tire wall. Hot oil ignites engine bay.