Mass produced cheap bikes

Anyways, the unipack bike is essentially what you're describing, and you can get it for £170!

That was what I was thinking too. I always think it is a shame that "bike shops*" are willing to sell stuff like this, when for less you could get a really solid second hand bike, and probably if a conversion - being put together by someone who knows what they are doing.

• = I say bike shop, but I in reality lots of people punt crap bikes - e.g. Woolworths etc
  
  

I love second hand and rarely buy anything new, might be a bias view.