It might not look like much—a little fish-eye’d, maybe—but it’s a prime example of a stroboscopic curiosity unique to the age of digital video, one that takes on seemingly any form imaginable through the lenses of DSLR, RED, and other camera technologies kitted with CMOS (complimentary metal-oxide-semiconductor) sensors.
A glitch, if you’d like to call it that. Others know it as the rolling shutter effect.
This is essentially what happens when you simultaneously playback all parts of an image’s frame that weren’t all shot simultaneously. It’s the result of moving, or rolling, a camera’s shutter over an exposure window, rather than letting photons hit your camera’s sensors all in one go. At least that’s the gist. Here’s a deeper overview, if you’re curious.