Yes. This is essentially an unwrapped cylindrical projection of a 3D object rather than a standard outward-facing panorama. You photograph while moving around the subject, then map the subject’s surface onto a cylinder and “unwrap” that cylinder into a flat image. Like any map projection, it introduces distortion, so it won’t preserve all geometry perfectly.

A related term is slit-scan photography, since these results are often built from narrow slices of successive frames. One research name for the idea is "unwrap mosaics," where a video shot while circling the object is stitched into an unwrapped texture-like image.

So the concept is real, but it is not a normal panorama workflow. Using a thin strip from each image can be part of the method, especially in slit-scan-style approaches. The result can show multiple sides of an object at once, but with projection-related distortion.