No, it's either suffocating or there is a current moving over it's gills allowing it to breath while temporarily remaining in place.
Note: this is what makes sharking finning particularly cruel, because the fisherman usually don't kill the shark on the boat, they slice off the fins while they are alive and throw then overboard to drown because they can no longer swim/breath.
So I can actually explain what’s happening here. Firstly, some sharks are able to actively pump water over their gills from a stationary position to keep from suffocating (I can’t remember off the top of my head if this one can though), and the reason it’s so chill is because it has a series of gel-filled pores on its rostrum called Amplullae of Lorenzini, that transit electrical signals directly to its brain. My stroking the rostrum, the diver is basically overloading the shark’s electrical senses and disorienting it into a state of complicity. It’s not harmful in the long term, though. :)
Note: this is what makes sharking finning particularly cruel, because the fisherman usually don't kill the shark on the boat, they slice off the fins while they are alive and throw then overboard to drown because they can no longer swim/breath.