I’ve always called it the cat-crazies and it seems to be common to most cats.
I think the theory about relating to hunting behavior is accurate.
This is also the theory behind why cats seem to sleep (or doze peacefully) for most of the time.
We like to think that our modern day kitties have been more domesticated than they are in reality.
This mimics precisely their accustomed behavior in the wild—long periods of rest culminating in one or more energy depleting hunting runs.
Even tho they no longer have to hunt for their food, this is their method for burning off all the excess energy they’ve been conserving all day long.