The object looks fine to me in object mode but on edit mode i see this clippings through the object's box selection. It is supposed to look like that or is there an issue that i'm not noticing?
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Nothing seems wrong here, it's just some z-fighting between your edit mesh and the subsurf mesh.
Z-fighting is when two faces (in this case, the edit mesh face and the subsurf faces) occupy the same space, so they "fight" over which one gets rendered first.