Whatcha talkin bout, Willis?
Hah! You've just aged yourself old man! Welcome to the club TCS!
FWIW, I think it looks like a cool bike and something with a lot of potential. But considering that the alternatives are pretty good, I think it's risky. My take is that this is the bike for someone that is really hung up on the small wheels.
I think TCS's comment about fenders and a rack is excellent. In some of the photos, the clearance between the top of the wheel and the fork crown appears quite small. My experience taking folders on Metro suggests that fenders are a necessity since even when it doesn't rain, there are still wet spots that other things that make tires messy.
RE: Jur's comment ... How can they make the frame for less than $1200?