It is no doubt an intellectual theft of that bag. I have seen a few versions; one carries one bottle, one carries two. It is for exceedingly long rides on exceedingly hot summer days--or carrying sleeves and such in the winter. I plan to swap out the bag with something more reasonable for most rides ... and add a top-tube and handlebar bag as needed.
That bag was exceedingly cheap and might not even be workable----I think I might hit it with my thighs when riding vigorously. It might need some modification.
I also dropped the bars just a bit. Still seeking the perfect balance.