To be fair, the entire point of camoflauge is to make the moment where somebody holding the AT weapon goes “what the fuck is…” last long enough that the crew inside the armored vehicle are able to pass out of danger before the person holding the AT weapon comes to and decides to fire.

Not so the wheels which look like they are painted like that for a parade, but the body paint does a fantastic job at breaking the lines of the vehicle. People seeing something like that partially obstructed by a bush might not be able to tell it is vehicle shaped at all, let alone be able to tell what type of vehicle it is.

Looks like they took inspiration from a camouflage net

If you park it on shitty pavement, it disappears