Mmmmh not sure, it seems text is filled and lasers does this obturation glitch which makes it difficult to read text or image because of its speed/ips difference, I don't know how to explain. Should be a bad ass projector.
You are thinking of laser light shows. Laser projectors function the same as any other projector but have laser light as the light source.
Laser light shows deflect a single point of laser light with fast moving mirrors.