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You are completely correct. The film was made in 1898 but the Flash encoded video on December 5th, 2008. And dude, it's from the BFI National Archives. I think it's real! If it is not real I would be stunned and say "Wow! That guy is a d@m good editor, director, compositor, visual effects artist, and historian. The projector IS a early post-production trick where two (or more) strips of film would be layered on top of each other and would be glued together. There is no sound because cameras that early could not record or reproduce sound. Any music would be played by an orchestra at a theatre. My mom plays for the Silent Film Society here in Chicago and I love going and watching them with the live orchestra. Every time someone talks there is a bow that plays after a few sentences that says what they said. It's very interesting to watch old, soundless films.
 
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