The first thought that comes to mind ? They took an old 10 speed frame and recycled it ? Cutting the joints and reusing something that might've been bent after an accident beyond the welded joint areas. I wouldn't mind trying one out, but not for what they're selling one for. I'd want a lifetime warranty on the frame too. Bike theft would be infinitely easier, a saw cuts thru that easier than steel.

The next thought, a Gilligan's Island bike.

http://www.lrudel.com/images/gilligan.jpg
http://www.instructables.com/id/Bamboo-Bike-Frame/