You're all correct. I don't think anyone expected anything else from Channel Seven, but anyone who has any slight interest in Theme Parks and Roller Coasters would have found that story ridiculous. My favourite parts were how they described the White Water World Incident "At the top of the slide she let go, a huge volume of water propelled her down" (LMAO), and how they literally told Nat to act like riding Valravn was going to be a death sentence and told her to be super dramatic and put her head in her hands when she got off the ride. If I was behind the camera I wouldn't have been able to keep it together with how awkward and fake that must have looked in real life. The UFO stuff at the end was just icing on the cake to highlight how much of a joke 7 News reporting is.
RE: The Inspector Audit guy asking "When are you planning to air this?", I thought the same thing when they showed Cedar Point promoting Valravn as their new ride. They were obviously planning and filmed that part in 2017 and added the footage of Steel Vengeance later.