No, the bottom side has a reflection, so it’s the printed image, which was then framed and put on the floor. Then for some reason the bottom side is not completely visible, but the reflection indicates that that’s actually floor and that it’s a single shitty angle picture of the frame put on the power point.

Nvm I missed the outer image. Your list is correct, you just missed the frame. My guess is that the outer image was done to “resize” the pic into another aspect ratio to post on Instagram since insta prefers that aspect ratio.