what it looks like is an object breaking up in the atmosphere, and that's no doubt what it actually is. but, if you look carefully you can see planes flying around it. there's also a second explosion that this camera shot catches briefly.
it could be decades before this is declassified. however, i think it's rather clear that something just got shot down over los angeles. what exactly that is isn't entirely clear. you're not being told what actually happened for the good reason that you'd collectively flip out.
but i pity the fool that launched it.