I suspect it was marketed as a mountain bike... Early mountain bikes had no suspension because back in the day people weren't too lazy to stand up and maneuver over bumps.
Actually, at one point, there simply were no shocks for bikes.
It looks similar to a bike I have from that time period, as far as geometry and components (i.e. cantilever brakes, 26" wheels etc).
It is quite a difference from today when some bikes designed for use mostly on paved roads and bike trails have front shocks...