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Yeah they're not awful. Their repel corsa jersey and arm warmers are great, kept me warm and dry throughout most of this winter. The windtex winter stuff is warm, breathable etc. Those bibs weren't a great example but they're fine, their pricier stuff is even better. Better made than a bunch of other brands I've tried. Disclaimer: I don't have any rapha :)
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They also had a PTJ before Rapha did. I think I sold mine to @soul many years ago
Lusso are cheaper than rapha and are made in UK. Also, whilst maybe not as stylish, Lusso kit is awesome. Well made, hard-wearing and functions exactly as it ought.
I wore a pair of their Aero50 bib shorts for Dunwich dynamo and my arse survived. They were £35.