This is significant because a traditional ICE powered bike in the same class like the Yamaha TW200 costs about $4,500 brand new. This electric bike seems to have very similar performance characteristics for only about $1,000 more. That truly is competitive with ICE in just about every category.
Still, a bike like the TW200 has 30 years of parts and knowledge on the market that the electric bike doesn't. But this is exactly what needs to happen for those parts and knowledge to get built.