I think the name has been bought and is now used on a line
of bicycles marketed in a much more mainstream manner.

http://www.mielebicycles.com/main.cfm?l=en

These are not the Miele's you see discussed here as higher
quality road bikes. Schwinn (and for that matter Huffy and
Roadmaster, which were once legit bike makers) is the same
deal.

I know nothing about the current Miele quality.

And yeah, nobody fakes a 20 buck bike.