Yes, because what the world needs is another wanky "design concept" from people with no clue about bicycles. They seem to have failed to grasp how bikes actually roll along and go around corners, for a start.
On the other hand, at least it's got hubs. They're usually the first thing to go when aspirant designers decide that they can improve bikes. Something to do with the fact that they know their designs will never get closer to reality than a balsa mock-up ;-)