This is an awesome and innovative piece of art that perfectly captures a retro style of gaming. If you're reading this comment and haven't downloaded Perennial yet, stop reading and press download!
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WARNING: This "game" can potentially damage people's headphones and speakers with noise that loud. Not to mention hurt someone's hearing severely if they have headphones in. If anyone downloads this, please be sure to turn your volume extremely low.
As for what it is - it's just a sphere floating in some terrain. The closer you get, the more active the sphere becomes, and if get as close as you can and you fall beneath it, your hearing/audio equipment may be damaged. Which seems to be the only purpose of this file.