The Pothole That Ate Medford?

Over the weekend I spotted this pylon at the end of Harvard Street in Medford, where it hits Mystic Avenue.

It looks like it was left to mark a hole so motorists (or maybe bicyclists/motorcyclists?) would not hit it. But it also looks like the hole got worse after the pylon was placed, and now it's being consumed by the hole, or something. Either way, be careful over there...