A null hypothesis can only be applied to the statistics of controlled experiments e.g. Hypothesis testing works by collecting data and measuring how probable the particular set of data is, assuming the null hypothesis is true. If the data-set is very improbable ( usually defined as observed less than 5% of the time ), then the experimenter concludes that the null hypothesis is false. Skeptics should stop using the null hypothesis with respect to UFO sightings and other data that has not been collected under controlled conditions. To do so is pseudoskeptical, ( so although you may think I'm being critical or picky, I'm actually trying to help you here.) It is however applicable to something like homeopathy, where conditions and results can be measured with more precision, although technically the case studies for homeopathy ( and other medicine ) still count as annecdotal evidence.
Now all that being said .... what would my assessment be? I really don't know enough about it. As bizarre as it is, I don't have any proof of a hoax, nor of truth. It's far more unbelieveable than a typical good UFO sighting, and nowhere near the same level of credibility as a report from a trained reliable observer such as an on duty USAF pilot. And if that is my opinion, I know the polarized skeptic would have a hard time even imagining it in the context of any reality.
j.r.