Have you seen "Chronicles of Riddick"? In CSGO, you move like that necromonger leader: • Video
The blue shadow is your local game. The "actual guy" is what the servers sees.
What this means is that you can "run around" corners before enemies see you. Like in this clip here!
The effects are greater the higher your interp is!
In this clip: The lower is "what the server sees". The upper is "what you see". Meaning you can peek and kill someone before they see you if you prefire ;) It also means that you can be killed, even though you just ran behind a wall :(
I'm guessing a high interp makes you bad at holding angles but good if you are an offensive player! (See people later if they peek you, see people earlier if you peek them.)
In the test: My laptop (lower monitor) is spectating my "main monitor" (upper monitor).