This seems to be one the most economic (and probably time taking) way to prepare a pineapple wasting the precious flesh as little as possible. It also gives very nice looking groovy pineapple result. I have seen people peeling pineapples this way many times in Thailand, and finally one time in Vietnam I thought of filming the procedure. Notice the disfigured hand of the nice fruit seller lady.
First off, here's a fast version of the video, where you'll get the idea how to cut a pineapple by Fibonacci sequence. Scroll a bit down for the normal speed version.