I have probably gone through about 10 gallons of PUP 5w30, and have seen this frequently. The older it is, or the longer it has been on the shelf, the more pronounced it seems. I have not seen one of my samples as dark as yours. I called the help line for Pennzoil and asked the same question. The answer I got was " Let me take your number and email, and somebody will get back with you. But the short answer is that it is additive fallout that is harmless, and should be shaken so it gets poured into the engine." If you rub some between your fingers you cannot feel anything abnormal, at least in my case.
Along with PUP, I have seen it in M1 and Amsoil. I have a few quarts of marine gear lube and it is probably the most pronounced in that product after sitting for a few years.