What is this well?

In Earthbound Beginnings, there's a well or something in Magicant. But I just walk over it. I Can't interact with it. See this screenshot:

What is this?

Solution 1:

Looking around on the internet, this well may not have a purpose. However, further down from that well are a collection of wells, which one of them leads to the Crystal Caverns.

After you've seen all there is to see in Magicant, walk into the main area populated with foes and head east. Over a bridge, you'll find a collection of wells. By walking into the one pictured, you'll descend into a cavernous area.

Below is the well that leads to the caverns:

Looking at an overall map, this well is not marked as a point of interest, so it looks to just be cosmetic, or indicative of the wells just below it.