Aside from the fact that it is ugly, the "what's wrong with it" is as follows...

One brake = danger.

Heavy tires and heavy wheels negatively impact the feel of the bicycle, making it feel sluggish, slow to respond and difficult to accelerate(this is also a gearing issue).

The riding position is not to my liking but I am, mostly, a drop bar road bike guy with little interest in anything that does not feel like a drop bar road bike. Even if I did like more upright bars, the ones supplied on the bike are very narrow, uncomfortably so.

The gearing is way too difficult for a 70 year old man to push, except when on the flat or going down hill, both with the wind at my back.

The single cog freewheel is rough and in need of lubrication (remember this is a new bike, not something that has sat for forty years).

And, once that ugly orange starts to wear off of the braking surfaces on the rims (make that rim), the bike will be even uglier (again, an opinion).

All that said, I might like it more with decent drop bars, two brakes and a sensible set of wheels/tires. And, of course, a larger cog on the single gear freewheel. The fixed cog will never, ever, be used by me. I had my Fixie experiment with a Trek T-1 and hated it!

But there is one thing I really like - the rear drops...