yea that cicada is going through metamorphosis , the nymph of the cicada however lives underground and will go through 5 developmental stages all the while being immobile, then the final change from pupal to maturity takes place above ground normally in decomposing leaves or on branches.
That certain cicada, and the most common north American species is,
Magicicada Cicadoidea, which can live 13-17 years. and as menacing as it looks it is harmless, being mainly a plant sap eater, and also occasionally will eat decaying fruits/berries and other deceased insects.