What's happening in this clip?

Can anyone tell me what's happening in this clip? Why was the landing
aborted?

http://www.cs.wisc.edu/~rajwar/base/...nes.whoops.mov

It appears the pilot is coming in rather fast and at too much of an
angle, but that could just be my amateur's eye. I'm not a pilot... yet.

Also, what kind of delay is there from the time the pilot goes full
throttle until the plane actually reacts? Near-immediate, or to have
such a close call would the pilot likely have goosed it a few seconds
before we actually see the plane start to go back up?

Thanks

S.