Lol, no.
It was a bit smokey as I went though.
The guy who runs the workshop gave me the bit to use.
I'm guessing its not fit for purpose or the drill press is too fast.
If it was the Forstner bit that's in the first picture it looks like the bit is dull and/or burnt. It might be able to be sharpened but if it's been overheated it's time for a new one.