This clip belongs to the large family of short reaction sounds that spread through meme edits and short-form video, where a single spoken phrase can carry a whole joke. What, no way is a familiar everyday expression of disbelief, which is why it works without context: listeners instantly recognise the tone even if they have never heard this exact recording before. Creators reuse it because it is fast, quotable and easy to drop over a reveal, and its brevity keeps it useful across gaming clips, vlogs, reaction videos and comedy edits.