I’m not familiar with any drill bits similar to that item. It doesn’t have a centered starter tip; it is off-center.
I’m not seeing how it would be an effective drill design.
I have no thoughts as to what it is. I hope you get a good answer. I look forward to learning about it.👍🏼
I contacted my wood shop buddy that has over 50 yrs of doing his trade.
He had seen similar bits like this one also there was 3 thoughts that came to mind.
Spoon bit that chair makers would use.
Perhaps a reamer for those holes that weren't large enough.
Even a counter sink
Looking forward in an actual ID on this bit, something different is always cool.