TVTropes calls it a "Neo-Dada art form consisting of video remixes. . . to confuse, stun or entertain the viewer". A recent top ten list (more here) fills the gaps of that description with ample WTF, which is almost too appropriate for a video genre that first garnered attention as a misdirection troll. [more inside]
So you remember that 'dumb, totally fake' video of a bird pooping in a reporter's mouth that was posted and deleted a week ago? It's meta-fake. Maybe even pata-fake.