If you zoom in to the top left of the fishes mouth you can see the hook protruding through the lip.  That is also a Berkley Bungee Leech - very effective leech plastic.

Fishing is so far off my radar recently that, for some reason, I blanked and didn't realize it was one of those rather large type offset hooks. Looking again today, after the help, I expect the business end of that hook is in the fish's lip or deeper so it all makes sense to me now.

Gotta keep those fishing synapses firing. That was a close one!

I'm sure there is some sort of snap on weight or bottom bouncer about 24" up the line from the hook

Here's a little video showing how a plastic Twister moves on the retrieve with that Offset Hook.
Swims straight like a living worm.

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To make it really weedless/more snag-proof, you skin hook the hook tip into the plastic.

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I recognize the hook. It's an offset hook. I use them for bass fishing with plastic worms or other plastic baits.
Unlike traditional hooks they allow the bait to move in a more natural "straight" swimming motion.

That black bait looks like some kind of leech or similar bait.

If you haven't tried an offset hook check them out.
You can see the difference in how they look compared to a straight shank hook. A big improvement IMHO.

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Looks like a topwater 'creature' lure. Probably swim it erratically on the surface. It must work.

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What sort of lure and hook combo is that? I've not seen anything similar. The lure looks fun to use but that is one weird hook - IMO.