If the strings were driven by a sine oscillator at the proper frequency, the standing wave nature would appear with fixed nodes. The frame rate wouldn't affect where the nodes are. You would need the antinodes flexing up and down, but the lateral positions wouldn't change.
However, in this video several things appear to be happening. First, the pluck generates several harmonics on the string. Few of the nodes of these coincide, and as the numerous standing waves damp out for one particular note, they disappear at different rates. Also, in real strings, the overtones are not perfect harmonics causing any alignment of nodes that might ideally be present to be a tiny bit off. The nodal mismatch and the different damping rates of the overtones change the wave form on the string dramatically as a function of time, and the "strongest" nodal positions change as a function of time. This, combined with the frame rate, gives the effect that you see.
A second-order, very small effect that might be visible (I'm not sure, but it would be a tiny effect) is that when a string is plucked, the tension is higher than normal. As the amplitude decreases, the tension decreases (remember, these are real string and have real stiffness), so the pitches change a miniscule amount. To see this, use a good tuner and pluck guitar strings hard vs. soft.
Another effect that's visible is when the player changes notes. This causes a dramatic waveform shift (especially for sliding or bending notes) which, again, is caught by the frame rate.