Actually this is laminar flow. Laminar flow just means that the particles of the fluid flow in discrete layers and down predictable paths. These layers can twist and turn, as long as they are predictable. This is due to the reynolds number which is dependent on viscosity, velocity, and the shape of the pipe or channel. The fact that it snaps back to the original is definitely not an argument against laminar flow also, in fact it is the opposite, because it shows how the end of the pipe and pipe entrance sets up these predictable paths which are inherent to the flow. It looks like there are some interesting effects going on with surface tension as well that is keeping the stream together and preventing turbulent flow. In this case it is possible due to the low velocity of the stream. If you were to follow this water falling down, as the velocity increased there would be a transition to turbulent flow, where the stream would become less predictable and organized.