It seems like I'm missing a joke.

Is this style in homage to the linked-to page? I can't figure out why you're not using itertools nor re-using itertools names. Is it that translating from .. is that Haskell? .. to Python without idiomatic translation the subversion?

  from itertools import islice, cycle

  def fizzbuzz():
    return (a + b or str(c) for c, (a, b) in enumerate(zip(
       cycle(("", "", "Fizz")),
       cycle(("", "", "", "", "Buzz")),
       ), start = 1))

  >>> print(*islice(fizzbuzz(), 0, 30))
  1 2 Fizz 4 Buzz Fizz 7 8 Fizz Buzz 11 Fizz 13 14 FizzBuzz
  16 17 Fizz 19 Buzz Fizz 22 23 Fizz Buzz 26 Fizz 28 29 FizzBuzz