Yes, that's the main thing. The first impression is "subdued" and "safe".
more significant than the color, though, is the way everything is relatively smooth and integrated. The brakes and seatpost, for example, seem to be bright alloy only because someone thought the trim should be chrome, not because those parts should have an identity of their own: they seem formally subservient to the whole. The stem also seems designed specifically for that bike.
The thing is, as much as we've come to expect this kind of total design in automobiles, it's hardly expected with bicycles.
It's only comical to the extent that it reminds me so much of a car. As a design exercise, though, I'd give it a thumbs up. (But not a hot)