It looks like an adjustable version of the transmitting dipole Ramsey used to sell before they shut their doors.
Vertical dipoles do well on FM. I used to screw around with an FM transmitter for kicks, you couldn't hear much beyond the yard with the whip that came with it. I built a vertical dipole, hung it outside a second story window, fed it with a short section of coax and my range jumped from about 150 yards to a half mile from that alone. The kicker is it was all legal under Part-15 rules. Tx power, antenna and total length of feedline, all well within FCC rules. In a densely packed urban environment you could have quite a nice little audience with that alone.