This game is a really cool experience! Here are my thoughts on what is happening in it.

My guess as to what is happening is that this server has someone's consciousness in it who has died, their brain being used to compute and render what we see. It tries to keep up with rendering what we see but is not fast enough giving us the effect the visuals have (data-moshing I think it is called) and starts to overheat, trying its best to keep up.

As it overheats more and more, the panic sets in, and it starts to let out more words trying to rationalize its situation, saying more and more as it gets hotter, until it finally gives out. The last words of the entity "I AM NOT WHAT REMAINS" are telling us that, though the mind is still going, whatever this thing once was has been forgotten. Only its final painful moments, the injuries described, can be recalled. Not even the name of whatever this entity once was remains.

Also, notice how this entity never speaks in uppercase until these last words. I don't really know what this means, but it seems like a neat detail none the less.

It may be a stretch, but the fact that we are driving and that we are in is a city makes me feel like this person died in a driving related accident before being transplanted into, and becoming, this entity.

This entity does not seem to die at the end, as we can restart, and I think that is part of a cycle. It starts up, forgetting most of what it is. Then it is found by somebody, us as the player, who connects to it and makes it hopelessly try and compute this "game". After overheating, it finally dies, only to be restarted and have the cycle repeat.

That is all I have to say, feel free to add on in the replies if you have any other ideas.

Once again, 10/10 experience, fantastic job!