For me, the only dissatisfying thing about this pitch is that it went in the books as a 'ball'. I feel like it deserves some sort of greater classification, like 'superball', or 'walk'.
If the image of Tim Lincecum pitching a ball directly over his own head isn't enough for you, please take the time to view this handy .gif, which spells things out quite nicely:
It's rather reminiscent of Matt Chico a few years ago:
...but then, at least Chico's pitch went somewhere, and had a velocity. For Lincecum, the displacement of his pitch was just about zero, meaning that, for all intents and purposes, it didn't happen.
To think that Lincecum's lost grip was only the second-weirdest thing to happen in the game.