Answer: It shows Faustus when he is at the height of his powers.
The fragment clearly refers to Faustus as he is first portrayed to the reader, as a learned and wise man, but also shows his character trait that eventually will lead to his demise: his pride and arrogance, his desire to be above humanity, to the point that he would even “mount himself to scale Olympus´ top”. Notwithstanding this last flaw in his character that is visible in the fragment quoted, Faustus, at this point, is still shown to be at the height of his powers.