Only problem is it isn't Photoshop!!!
It's called Procreate, which is an outstanding painting program for the ipad.
I've been fooling around with it. It is a great drawing and painting app, for ipad only. So nice you forget about the tools till you actually need them. It can even uses smart pens when needed, or fingers or reg. Forgot to mention it records all brush strokes as well, so what you are watching is the recording of him doing it, from the procreate stroke by stroke recording.
stylus.
http://procreate.si/
Procreate was done by some group of aussies, in a shed way out in the outback! : )
Now if only they would market the talent that guy shows, whole other story there!!