It was and still is a very cheap nasty cynical attempt to cash in on something that was generating money.
Take the already terrible Raleigh mustang frame, add the most awful 'suspension' forks and you have instant birthday / Christmas present fodder for unsuspecting but well meaning relatives to buy.
It has no car equivalent so you can calm your heads there.
But, in the dim and distant 80's lurked it's home computer equivalent...
The Amstrad CPC464
Parents new to this home computer lark were lured in by offers and for the same price as the far superior Atari ST or Amiga 500, Alan would supply the best habitat desk, his finest colour monitor as well as the already out of date CPC
So, yes, it's an Amstrad of the cycling world.
So off to the recycling centre with it, weigh it in and be glad in the knowledge that you saved another poor unsuspecting soul from bicycling misery