Holy shit that guy is amazing! You know what impressed me most? That bit at the end that said "no CG". I mean it would have been impressive enough to do all that in a 3D software, but without it? Whoah. How did he even do that? Animatronics? stop motion? I'd love to see a making of.
Anyway, relating to the content of the video I guess Lovecraftian horror (however one would define that) isn't entirely dead after all, eh?