In fact, the bike is actually called the BOND Bike, with BOND standing for Built of Notorious Deterrents. According to the Daily Mail, it was actually put together by an insurance company in the U.K. who surveyed their customers to find out what they least liked about cycling. Their responses, which included potholes, traffic, and thieves, helped to inspire the design, which is at least good for a laugh.
Can't you see yourself cruising down the Chief Ladiga Rail Trail in this "bike tank"?... Wonder how fast it actually would be?... Enjoy.