From an outside observer's perspective, Arai-san seems to warp back up and enter the same door she started from. From Arai-san's own perspective, she appears to go down a floor. There's something involving her consciousness and perception of going down, and if she were to descend unconsciously, some weird stuff would happen.
The author seems to be trying to set up a paradox in the last panel by seemingly separating Raccon-san's "subjective viewpoint" and "consciousness" but it doesn't work, at least not in English. Having a subjective viewpoint is dependent on awareness, so an unconscious mind can't have a viewpoint of anything, save for possibly its own dreamstate.
Oh I get it! Because the stair anomaly is only actually one floor high, you can go down one floor and then get off, as long as you do precisely that. But if you try to go down more than one floor, you become locked into "going down the stairs" over the entire length of the staircase, and then you can no longer divert from that course, because you've already decided to go past the one single exit that exists.
Objective 3rd personObjective 3rd personFrom our perspective, Raccoon-san isn't going down, but is in a loop.Noda da..She's not going down? Raccoon-san is in a loop, right?Going down noda.Going down noda.I went down noda.Objective 3rd personFrom my perspective, it still looks like she's not "going down", but...Raccoon-san's awareness = Not aware she's going down the stairsNoda da..Going down noda.Going down noda.I went down noda.As the awake Raccoon-san is going down the stairs under her own power, Raccoon-san is aware that she is going down the stairs, and from Raccoon-san's subjective view, she is going down the stairs.Raccoon-san's awareness = Going down the stairs"Raccoon-san"'s subjective view = Going down the stairs"Raccoon-san"'s subjective view = Going down the stairsAs the unconscious Raccoon-san is sliding down the stairs, Raccoon-san is not aware that she is going down the stairs, however from Raccoon-san's subjective view, she is, of course, "going down" the stairs. "Once Raccoon-san's subjective event is fixed, 'Raccoon-san's awareness' is unnecessary."Noda da..