Most versions hosted on video-sharing sites are simply loud jumpscares designed to startle the viewer.
The video is part of the subculture. It is frequently presented as a file found on the Deep Web or a "hidden" directory that contains disturbing or supernatural footage. In most viral iterations: 4837mp4
Some creators have turned it into an Alternate Reality Game (ARG) , where they leave clues in the comments or descriptions for viewers to "decode" the video's origin. Most versions hosted on video-sharing sites are simply