Actually if you look at any modern road bike youll notice that the handlebars are usually at the same level, or below the seat. It looks awkward until you ride one, youll see when you do. As for the design, how does it steer, it seems the front fork is fused to the rest of the frame, rendering a bike that cannot turn. Additionally, the wheels, although nice looking would flex badly as you rode over bumps, it would absorb bumps but make for a very wobbly and inefficient bike.