At this point in the history of motion pictures, a panorama meant a camera that moved, any camera that moved, usually by being put on a train or boat or some such and giving the viewers a sight of what they would see in the camera's place: a constantly changing view. By the middle of the next decade, it had assumed its modern meaning of a panorama or "Pan" shot, in which the camera sat in one spot and was turned to give up to a 360 degree field of vision. Later, wide-screen techniques would attempt to replicate the original painterly sense with a wide-angle view -- and incorporate the word in such wide-screen methods as Panavision.
In the meantime, we get to see this film. It is the flip viewpoint to the Lumieres' "Arrivée d'un train à Perrache" in which the camera was set at the station and the audience gets to see the train approach. With this, we see the places the train passes by until the station is reached.
The Lumieres had invented the point-of-view shot.