Rat Bikes! Pub Bikes Beaters! Frankenbikes!

Integrated stem?

Looks like a normal BMX style top clamped stem to me.

what doesnt kill you, makes you drink more.

This.

A rack still allows weight to be distributed between the axle and the bar, not letting all the weight hang on the steerer tube; I can imagine depending on the fork the flex would be a pita with heavy loads.

Wha..??!!!
As this clearly IS putting all its weight on the stem and in particular, the handlebar clamp of the stem, I don't see the relevance of your comment. 0_o