Gui hua chen jiu isn't olive flavored, it's sweet osmanthus flavored. So it's a sweet, aromatic wine.
I'm actually very curious what the secret is now, because so far it's literally just been a bog standard chili oil. You usually don't temper with water though, you use a combination of shaoxing wine and soy sauce, and possibly vinegar, and you actually usually use more spices in the oil, especially scallions/green onions and ginger. Wonder how they're going to explain the literal tower of oil that exploded.