Non conforming type returned by TYPE-OF for displaced arrays.
The result of evaluating TYPE-OF on a displaced array returns a type
that involves an AND expression and a NOT expression. e.g.
(type-of (make-array 5 :displaced-to (make-array 10)))
=> (and (vector t 5) (not simple-array))
According to the CLHS page for TYPE-OF  it states that:
1. For any object that is an element of some built-in type:
b. the type returned does not involve AND, EQL, MEMBER, NOT, OR,
SATISFIES, or VALUES.
Thanks to |3b| for identifying the issue on #lisp.