SC sed "What would possibly make this bike justify 1,500 Euros?"
It's a whack. But the eventual retail might be around E1000 in a year's time. Even so
Koga Miyata have a reputation for heavy build quality, their bikes regularly feature on round-the-world tours, but then so do Schwinn 'Varsities.
Brand loyalty will sell a few but not at Snafu Castle. I think it's a looker though, apart from the scaffolding rat-trap over the rear wheel.
The 'elastic band and IGH commuter crowd' will buy anything to keep the grease off their Jimmy Choos, though. :-)