The Japanese created a couple of 'Aero' bikes designed around Shimano's AX group from '80-82 with funky-shaped Tange tubing. I have an Araya version of that. In my opinion, it is nothing but a fancy Huffy Aerowind (albiet 1/3 the weight).

Maybe the Peugeot thought that there was some sort of niche left after the Japanese had all but abandoned the 'Aero' marketing strategy with what appears to be a half-assed attempt.