Essentially this question is about the difference between usability and user experience. User experience is about how the user feels.
Improving usability by removing unnecessary cognitive load etc. is essentially removing friction from the process so things move along smoothly. However this does not automatically lead to a good user experience. Filling out a lot of details in a web form is normally a chore for users, no matter how perfect the usability is. You need to engage them to make sure they go through with it, especially since your business model will likely depend on it. The animations in your example are playful, and will pleasantly surprise the user at every turn. This eases some of the pain of form filling, and can even become a motivation in itself; "What will they do next?", and before you know it the form is filled in. A nice book I read on this topic is Seductive Interaction Design, if you want to know more you should definitely check it out.