What are the "spinning dots" in Windows supposed to represent, and why do they stop? [on hold]

For some time now Windows has used the following animation to indicate some task is being performed:

This image seems odd. It starts as you might expect, but on the second revolution the dots simply disappear and then the whole thing repeats. I would have expected the dots to continue going around until the process is complete.

Has any explanation ever been offered for this, or is it possible to theorize about one? Is it simply a bug that Microsoft has never fixed, with the animation supposed to be continuous?

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Edit: Note that the animation above is not exactly the same as the Windows one. The Windows one is worse, with the dots being cut in half before they disappear, and the break between cycles of the animation is more obvious.