While a blueprint is in the clipboard waiting to be pasted, it causes the paint shape predictions to update repeatedly in places you wave it over, even though it shouldn't be affecting them yet. When you cancel the pasting, the game remains very laggy until the paint predictions are recalculated.
In the video, I had ~25 FPS until I opened the clipboard and started waving the blueprint around, at which point it dropped to 2-5 FPS. After I cleared the blueprint, the FPS stayed low for several more seconds, until the fluid prediction for things I had not touched finished again.