Exactly that. And the colour fringing around objects such as the man and the pole he’s holding isn’t because of lens chromatic aberration, it’s just movement between exposures.
It’s not a glitchy re-colourisation as such. This and many other photos were taken by Sergey Prokudin-Gorsky using black and white film and red, green and blue filters. These were then reprojected together to make a colour photograph.
I hadn’t realised Jira was that old.