I don't think I'd say a Trek 1000 is a classic road bike, so I not sure that much was lost in this conversion. Besides I like the look of that bike. Not that I want one.
It immediately reminded me of the chopped and lowered 50's coupes that were customized when I was a kid. Maybe it was the color. Those cars can be striking even if they are not easy to drive or very practical.
Everyone has different tastes, that's good. Sometimes you see something you just couldn't imagine in your own mind.