This technique splits a single video frame into two fields, drawing all the odd-numbered horizontal lines first, followed by the even-numbered lines. Originally developed for analog broadcast to double the perceived frame rate without increasing bandwidth, it relies on visual persistence to blend the fields. If moving subjects are captured, the slight time delay between fields causes a combing or tearing artifact on digital displays.
The LED wall looks terrible on camera because the feed is interlaced and the processor can't clean it up fast enough.
Most video systems have moved to progressive scan to avoid combing artifacts, making interlacing mostly a legacy broadcast issue.