Very interesting indeed!
If that frame doesnt really clear 32C, it's a deal breaker for me.
The wheels are really bad.
I can pull the trigger, delivered to France, for 1430 eur. At which point, i have a nice groupset, wheels i wouldnt want to ride, an outdated frame, and the cheapest components in existence.
I think it's a great turn key deal for anyone who just wants "a bike". The moment you drill into it, it stops making sense. And putting ultegra components on this is putting lipstick on a pig. I could go point by point why, but i'd have to charge for the time it'd take to explain
I think the biggest risk is spending good money after bad on such a platform, and never having a nice riding experience because the frame and wheels just suck.