On one hand, it is a shame the Time Lord Fairy Tales collection doesn't have more stories like this. That is to say, stories that are original, and not simply familiar stories with a Doctor Who veneer plastered over them.

On the other hand, fairy tales usually contain lessons, they show the virtuous get rewarded and vices get punished. This one, not so much. I'm not sure you could really describe this as a fairy tale for humans, though it might be a great one for Time Tots, as it shows curiosity having consequences. I do think this tale would make a good ghost story, if you will, to be told around a campfire. A good narrator might even be able to get the campers to see things moving in the shadows cast by the firelight.