My wife and I have been to Lake Mitchell (Australia) several times and have never seen anything like this.

Web of Intrigue - YouTube


This is more typical of what we see there:

Sony HXR-NX3 at Lake Mitchell - YouTube

What an incredible phenomenon!

Yes, there must have been millions of spiders there. And to think they are still there every other day we go walking though the bush. Lucky they're harmless, as long as you're not an insect.