Why not stamped sheet metal? They make even firearms that way!

I like that.......
Rather than serving up the kids the usual packed crap for Hexmas, it would be good to say, "Heyyyy lets BUILD a bicycle!!!"
I am a bit wary of pop rivets, especially on things that are subject to stress reversal, and I am frightened to death of bicycles coming apart underneath me, down hill at great speed.....
But as I am a big fellow, if I could be satisfied that this frame would hold together for say 10 years without "loosening up" I'd endorse this.
Partly because I like things "you get to do", partly because you can include other people in it, and partly because I like the "Built by people" look, over the factory blandness.
I also like it because of all the rivets and "cleverness much", and one of my friends was the late great professor Charles Slack - who with Timothy Leary pushed the LSD in the 60's.
And you know the while LSD does have some "unique" poroperties, all the drug users really talked out their rear ends, LSD isn't mind expanding - "LIFE is mind expanding, and life is a wonderful addiction - and there is so many fascination things to do - and this bike just reeks of endless fascination and while the stoners are sitting around on the couch - this bike and things like it - is where life is happening."
I can just see myself "Oooo I want to do this too!" and just enjoying making them.....
Dammit - it just LOOKS like something that you just HAVE TOO tinker with.... and polish and.....

Give it a tarnished copper color paint job, and voila! Steampunk Bicycle. Nice look.

Not sure what the point is here. The frames are expensive and need lots of hand work and have holes in them to allow water and other stuff inside the frame. I Love folded stuff, but this just looks like a solution for the problem of how to separate hipsters from their cash.

Cool concept, but isn't this what Orange has been doing with the Orange 5 frame for a number of years? As demonstrated by Guy Martin in this video http://www.youtube.com/watch?v=mlIYEdRFQu4 filmed at the Orange factory. Guy shows how a flat metal sheet is formed into the downtube of the bike, using a folding machine.

Josies got it right; but pressed or hydroformed sheet-metal frames still require a weld to join the two shells together. However I fail to see how a piece of perforated, folded sheet-metal could have any strength advantage over a "weakened" welded frame. Good welds should only reinforce the strength of the structure it is holding together.
But if I see this as a giant jigsaw puzzle with novelty as its core marketing tactic then I think it is pretty cool.

looks cool, and it could lead to all sorts of interesting styling too.

Why not just print the frame on your industrial 3-D printer (material notwithstanding)?
In any event, I'd like to see a latticework frame and adjustable on-the-fly crank length.

Someone said it is very expensive but for it's weight it is fairly priced. I like it because it looks heavy but it is very light.

I saw a recumbent bike built like this in the 1990's at an event in Long Beach. It worked.