yes its a real bike. its not photoshoped it has about like 48 cylinder check out
http://www.dirtbike.ws/drupal/node/view/1038
Each motor is basically 8 "s1/KH250" cylinders bolted on to cut up standard casings, with a 8 cyl built up crank, in turn they are bolted to a housing, gear linked and driven thru a BMW road bike gearbox, as the bike is pretty long already it would be difficult to put a transverse drive thru a gearbox.