I noticed the same. I can see how you could use the 'safety lever' (as they were marketed in the '80s) to brake with the bars at such an angle, but there's only one, and it's the back brake, so it'll have the stopping power of chewing gum.
The frame looks as if it might show promise, though. If that's the case, this bike deserves a visit from the midnight guerilla bike fettler - to reset the bars, remove the mktgspk lvr and leave instruction on locking the thing up.