Every time a photoreceptor cell is activated a whole internal chemical cascade has to happen, and it takes time for it to occur and for it to be restored back to the original state. All of this is considerable time.
The signals from the eye are sent by action potentials at rates, that if I'm not mistaken, are usually significantly under 100 per second. The action potential lasts about 1 millisecond and the refractory period after it about 2 millisecond, also metabolically the system can't handle sustained 100s signals per second rates.
There are estimated bit rates for the optic nerve, and they most certainly do not show infinite framerate.
From these recordings, the researchers calculated that a guinea pig retina transfers data at about 875 kilobits per second. Human retinas have about ten times as many ganglion cells, giving a “bandwidth” of 8.75 megabits per second.
But it could be faster, says physicist Vijay Balasubramanian, one of the study’s authors. “Each neuron is capable of firing close to once a millisecond,
but average activity is only four times a second,” he says. “You have to ask: Why is this?”
https://www.newscientist.com/article/dn9633-calculating-the-speed-of-sight/
When nearby or right on the same place stimuli is placed on close temporal proximity to a short stimulus it can result in masking and that stimulus not being perceived at all.
Also if there is short enough distance in time and space, the brain can and will hallucinate an interpolation for example between two different colored lights(it will hallucinate intervening moments were the light moves from one location to another and change color along the way).
Further, I've heard that at the thalamus, one of its functions is to step down the already low rate of spikes to a more manageable level by retransmitting at an even lower rate.
The brain itself also tends to send signals at under 100 spikes per second between areas, if I'm not mistaken, for example visual areas, and there are known estimates for the bit rates of spikes.
Even
the wagon wheel illusion, can occur under continuous illumination, something that many take it to suggest a discrete frames reality of perception.
Heck, just take your hand and move it left and right with a bit of speed, and you'll start seeing multiple images of the hand, even at such low speeds. And again the same goes, go watch rain hitting a puddle, pay attention it looks like a series of still frames one after another, way way different from what you see when water hits a body of water in one of those very high frames per second cameras(which by the way catch a lot of details that are basically imperceptible e.g. balloon exploding).
This is not what you experience when you see a bubble burst
What you experience is the bubble basically instantly disappearing when bursting open.
I'm very very doubtful the eye can distinguish between video(s) at hundreds of frames per second let alone at infinite frames per second.