>>1865132I'd say the market would be relatively wealthy people who lives in a bikeable smallish town and patronizes a friendly cool bike store and wants a zero effort expensive retro-y nice beater for cruising around on.
I see those people commonly riding clean top shelf modern mtbs and this would be far more suitable, useful and fun for them.
The price is a comparison to other high spec bikes you might buy new, so it's actually relatively low, for them.
The bike then has a second life which makes sense on the used market in 10-20 years time when it's worth ~$350 and is a great pickup. So not really worth complaining about from the perspective of someone who knows the value of money.
As for an actual enthusiast, it is hard to fathom. And the fit, which is a style, makes next to zero sense for any real riding. A lot of the market for it is likely people who get on and then get thrown violently off the hype train.
But for wealthy people, a 5k purchase of a fun casual bike like this would rank highly up the list of good things they bought and would bring them real joy.