That looks like an air intake, because of the direction the words appear to be reflecting in, but it's not. It's a standard nosecone shape, which means it's angling down from the "tip" of the nosecone towards the lower fascia. In other words, the angle of incidence from the pavement stenciling to the lower nosecone surface is probably 30-45 degrees.
As a result the reflection is to our ~10 o'clock perspective (starting from the lower lip of the cone where the angle changes). Due to the all-black, it appears to be entering a void/intake from the front of the car. But it's not.. there is no concave intake there. It's actually convex.