Yep. Of course the Tern marketing has said that "Tern" is a pun on "turn" and that Mr. J. Hon wanted to call the new company "180" as in "change course and go in the completely opposite direction". The hardware - which actually seems like a nice evolutionary step - doesn't really match the Tern marketing spiel.
If Tern bikes would come from a no name Asian manufacturer we would consider them to be Dahon clones.
Hopefully they will have better service and spare part availability.