I agree this item was made on a lathe - explaining the holes on each end.
Perhaps the part is defective, so the machinist making it never finished it by grinding off the excess?
This is my theory and I'm sticking with it!
Another option (possibly?) is maybe the tap is designed as a combination punch and tap for soft materials.
Done right, you theoretically could perform both operations at once with the same tool: Punch the material pilot hole, and then tap it.
But I don't know. It's unusual, that's for sure!
Nice find!