It's actually pretty frightening sounding. Didn't Stipe use to do solo electronic, loopsy stuff... with his sister, in 1980 or so? I think I read that somewhere. I wonder how much like this it sounded. This is probably what Stipe's solo stuff would end up like.
Did that ever evolve into a different song? That beat seems familiar, but it's been a few years since I was into my hard core REM listening phase (at least 6 hours, almost every single day!).