Fast forward to about 1:19 - It's building up ambiance or something.
I love this quote from the guy that put it together, James Houston:
Radiohead held an online contest to remix "Nude" from their album - "In Rainbows" This was quite a difficult task for everybody that entered, as Nude is in 6/8 timing, and 63bpm. Most music that's played in clubs is around 120bpm and usually 4/4 timing. It's pretty difficult to seamlessly mix a waltz beat into a DJ set.
This resulted in lots of generic entries consisting of a typical 4/4 beat, but with arbitrary clips from "Nude" thrown in so that they qualified for the contest.
Thom Yorke joked at the ridiculousness of it in an interview for NPR radio, hinting that they set the competition to find out how people would approach such a challenging task.
Sinclair ZX Spectrum - Guitars (rhythm & lead)
Epson LX-81 Dot Matrix Printer - Drums
HP Scanjet 3c - Bass Guitar
Hard Drive array - Act as a collection of bad speakers - Vocals & FX