I've seen similar drills. My guess is that they are improperly heat treated and get twisted while in a bind. At the cutting end, it appears to have a LH twist, but other parts have a RH twist. And there is the sort of no-twist area of transition. I can't think of a valid reason to make a drill with that configuration intentionally.
I think it's a Rotazip bit, intended for drilling into sheetrock (gypsum board) and then acts as a rotary file for sideways cuts.
Goes kinda fast, and it's too floppy for more robust materials. Makes good rectangle holes for outlets, though, quickly.
Yea, I knew they did not look the same. But on closer look, it is interesting that the original has the flutes change direction twice. The first change has both cutting edges cutting outward, which generally will create more splintering. Also does not look strong enough to cut anything more then Styrofoam, without breaking.
Even if you got it red hot, I think It would take some careful work to get the twisting, without the outer web of the flute cracking.
I wonder if it is one of those things a machinist does when he has spare time, and an inquiring mind. Or even something created by a drill maker, as a novelty.