It’s a built in CapCut captioning effect widely used by video editors on TikTok.

Speed reader applications have demonstrably proven that people can process word sequences MUCH quicker when you show sentences to them this way.

You can be annoyed by the style and how obtuse it looks in scale relation to the actual video content, but utility-wise, it’s objectively the “easiest to digest” way to display subtitles / captions.