What is very clear is the huge underestimation of everything in this project : bike design complexity, bike testing (riding a bike for a couple of minutes with one guy isn't testing), bike manufacturing, probably price of manufacturing (all the industry comes a much higher price for bike with titanium frame, why should Peter come to a much lower price, does he have unique knowledge, unique sourcing, unique manufacturing capabilities... ?).

All this is most probably due to a huge lack of knowledge.

Dreaming of a bike is different from making a bike !