"If a formula 1 engineer builds a bike that cost that much, and chooses to use a belt drive, it must be a pretty good system."

Or it's just overpriced wankery to appeal to the non-cycling crowd, a la the Porsche mountain bike or the Lamborghini hybrid bike.

If you want "look at me" points (and this is not an inconsequential factor in any custom build), and you're willing to retrofit a seatstay to accomodate it, and can find all the unique parts (I just tried google, not having much luck finding belts or cogs or chainrings), then sure, belt drive is the way to go.

If you want practicality and cost effectiveness (e.g. being able to walk into ANY bike shop and find replacement parts), then go with a chain.

If you want "look at me" points AND practicality, get a track chain in purple for $8 and call it a day.

(If you can find the actual belt drive parts, please post up here, as it would be interesting to see what a belt drive drivetrain goes for.)