Lol. Looks like it.
I tried a bit of additional primer on top of the previous layer, and it did this.
I guess putting more paint on top of paint that hasn't fully dried but has partly hardened caused the partly-hardened paint to re-liquefy, move, and cause these folds.
I'll wait a couple of days, then sand it, and then either re-primer it and wait. Or, if there's still enough primer on it after sanding and it's smooth, maybe I'll just put the colour coat on it then.