On the contrary, it seems a (very) simplified trucker s hitch to me...
One trucker s hitch has two fixed loops, so two trucker s hitches, side-by-side, would have four ! Here, you have ONE.
Besides, the whole knot/arrangement is TIB. I doubt that you can tie two parallel trucker s hitches, and manage to make the whole arrangement TIB - even if you use, as loops, slipped overhand knots.
You should "see" the Butterfly nub of the knot, without paying attention to where the "limbs" go and how they are linked to each other. If you isolate the "core" of the 8 "arms" of this octopus
( perhaps I should had named it "octopus hitch " !
), you can understand how it works. As I said in a previous post, it is nothing but a fixed loop where the ends are reeved through its eye and then back again through its nub. You can transform almost any fixed loop to its "tackled" version, and then use it as a hitch. Most of them have a tight enough nub, which is able to nip the two penetrating returning ends quite securely - mind you that the tension in each of them is divided by half. Also, the fact that the ends, when they turn around the tip of the loop before they re-enter into the nub, are in contact to the surface of the pole, enhances this security even more. Sometimes I had loosened them from the nub, but the hitch was remaining tensioned, because they were so much squeezed under the tip of the loop and the surface of the pole.
I had also tied some other variations, where there are two individual, not-interlinked loops - but they were more complex, more bulky, and, because they were not equilibrated, they were "locked" at different distances from the tips of the bights - an ugly sight.
As it happens to all knots, you have to tie it at least 12 times correctly, to appreciate it. Then, you can judge how complex it is, but only then, not at the start, when you only "see" entangled lines ad not the pattern where the logic of the mechanism drives them.