No idea, all I know is the blank screen thing is on multiple TH games from THPS3 all the way to THPG (lastgen).
I think it's probably a way of the game handling crazy physics or something as when you're in the blank screen & you jump, the game will warp you to either a ladder or a natas spin node (camera will still be blank).
And there's even a bug in the Gamecube (& I think also PS2) version of THUG1 where if you acid drop over & over very rapidly in the same spot, your skater will stretch & then sometimes you'll be put in the blank screen & the game will get corrupted (sound, level textures, etc.) when going to a restart after.
Very weird bug.