This doesn't look like something I would personally want to do with a rabbit (because I'd be concerned about the what ifs) but this lad obviously knows what , but the rabbit seems calm and fine. I bet it feels alot better after getting all that wool removed though.
I have been breeding rabbits for a quite a few years. I thoroughly enjoy them as animals and think they make great pets. I also like to take some of them to rabbit shows to see how they measure up to the standards.