Agreed. I would much rather have a normal, folding bike. However, I have to admit that these guys got the folding part right. I think folding bike design hasn't really progressed much over the years. People rave about Brompton bikes, but I am not impressed by how they fold, what they fold into, or their weight.

And while I would not pay the exorbitant price for this thing, I would gladly pay a significant amount of money for a modern folding bike. Say, with a carbon fiber frame instead of a steel one.