Considering this is Weird Al Yankovic and the banner for the film is "the unexaggerated true story about the greatest musician of our time," I think you can pretty much figure everything in it is satirical exaggeration and/or outright fiction.
Weird Al is all about the laughs, so one can expect his "biographical movie" is all about the laughs as well, not about the real story.
For example, I'm pretty certain he never had an alcohol addiction either as obviously is depicted in the trailer.