...is this correct? You can say this about any oscillating phenomenon - that doesn't mean it's not 'real'. The "squiggles" are an artifact of the frequency of the string and the scan rate of the rolling shutter. You'll also see artifacting from a global shutter camera, where the "squiggles" will be an artifact of the string frequency and the frame (rather than scan) rate.
Or do I misunderstand?
I've been playing guitar for 25 years, and it seems to me that I can look at the "squiggles" from a rolling shutter capture of a string and tell you which string it is (and possibly, if I'm having a particularly sharp day, whether it's E or drop-D). I've never tested myself this way - am I certain to fail? :-)