Bike porn

Yes, perhaps monetarily. But that Alpha frame would be horrendous to ride, whereas the Cervelo is meant to be stiff and light. As far as I'm aware, they're a brand that stick to their word.

Having had a quick glance at the AX-Lightness line-up, there are very few of their products that I'd actually ever want to own.

Plus, that Cervelo looks awesome whereas that AX looks like it might break (could be the photo, could be viewing bias).

No "pissing contest" because as you say it could be viewing bias .. but AX Lightness is a supplier to motorsports for different classes and categories such as Formula1, Le Mans, FIA GT, DTM, MotoGP/Superbike. The cycling branch profits from that technology .. so, given that they build parts to higher standards than the aerospace industry and in specific even NASA, I'm guessing the frame won't break if used within it's limits. As for how it would ride .. I don't really care, I can't afford either frame! What I like about the Cervelo is that a pro tour manufacturer has attempted to make a product that can compete and possibly surpass the majority of boutique frame builders, because ultimately some of the R&D will filter down to a price point I may be able to afford ..