In addition to keeping your pants clean, the chainguard also helps keep your pant cuff from getting caught in the chain.

I can somewhat understand the belt-guard around the pedal gear, but why all the way back to the rear wheel? This bike sounds like a scam, especially if you look at the cost...

I suspect that some of the design choices come down to styling. In terms of cost, this is a bike with a special market niche: Placement in Ikea stores, and branding associated with European lifestyle.