Leaning on this not being fake;
1) CwC is a horrible actor. If you follow his previous forced videos, he usually speaks with a slower gait, he takes numerous pauses, they're kept short, and don't go into too much detail. Perhaps someone could have blackmailed Chris into "oh yeah, I'm into incest, I have sex with my... mother", but the issue that the recording goes on, and on, and into more and more detail means either Chris got that much better at acting and embellishing forced writing, or its genuine.
2) He embellishes the information too much, hes practically volunteering it in the interview. That seems, less coerced, more descriptive.
3) If he was being forced to say something, I get the feeling that if someone wanted to make a fool of Chris, even if they went with the incest thing, they've either go a lot darker ("oh yeah, I had sex with her, I also beat her with a belt, and shes locked up in the closet"), or they'd insert lighter things, try and make jokes, create a more "entertaining" story, etc. This is in a space where its still horrifying, but not needlessly horrifying, and has nothing comedic about it at all. It seems actually realistic.
4) Based on the above, I don't think that it's blackmailing Chris into making a humiliating video. CwC hasn't really been trolled this hard by the forums or anyone in a long time, and if it was a troll, I'm sure they'd go in a different direction. Perhaps something more harmless, perhaps something that had to do with troons. If incest was the trolls aim, they'd either aim higher and darker if their goal was to ruin Chris, or they'd aim lower and with more "funny" things to demand of Chris to add in the audio. This is neither.
5) That would leave this as either being real, or a fantasy of Chris and him not being able to discern reality and a dimensional merge from eachother or whatever. I have serious doubt on that one.
I think it's real, and this is the end of the CwC saga outside of him being an abject, 100% bonafide horrorcow.