Sounds like everyone was placed in a different virtual world. People could still walk around and do certain stuff. Teleporting to Tortuga took me a good 15 seconds for it to go through.
It reset my game settings, also character models and clothes seem slightly bugged. Mine has his shoulders reduced lol. Problems loading textures and more lagging as well.
I guess the game died and got shocked back to life, nothing to be concerned about I think. I'm sure everything will be back to normal soon.