The CEO pretty clearly says it's meant to be a city truck with small size but just as much utility (or more) than something like a Tacoma.
Towing is possible but limited-- this is a weak point for all electric vehicles-- but good enough to haul a trailer to the dump or a boat a small distance.
But the bed is better in some ways than the Tacoma.
Big question is whether they can reach production and really deliver for this pricing, etc. They have ~11k preorders and could develop a lot more.