It's a duct, if that was the cut end of the fibre there wouldn't be enough cable to work with to terminate it.
The yellow spool is a cobra rod.
Agreed it also kinks and ‘bunches’ in the photos, unlike an external grade fibre which is a lot more smooth / uniform when rolled up or bent that way.
The ripcord and sheath thickness are also giveaways. As is relative thickness and number of the microducts in the bundle.