That is the Long Pond Stream crossing. That rope is secure, but I have also not felt the need to trust it with my life.
On one trip through this section (in 2015), it was calf-deep one day and mid-thigh (I am 5'6") the next day due to very heavy rain that occurred late afternoon until early morning. That was a pretty awesome presentation of just what a difference a day can make. It was also a good wake-up call to never take a stream for granted no matter what time of year.