One man's comfy is another man's flexy
If you ride one as fast as a normal bike, the shortcomings of the design show up - there is a lot of fore-and-aft flex under hard pedalling (even if you lock out the suspension with jubilee clips). Rolling resistance is monstrous due to the small wheels.
I agree they're overpriced, especially these days (an L3 was under £400 seven years ago), but nothing folds quite as small, and that's the point. There is actually a Chinese knock-off, the Merc, which has an aluminium main frame. However, it weighs more than a Brompton and everybody who has one complains about the seatpost slipping down. They don't seem to be officially sold in the UK (patent lawyers would pounce), but they sometimes appear on eBay. The rear hub (sold already built into a wheel for £40) is the same S-RF3 as on a Brompton 3-speed, although it has a longer axle and you have to juggle the spacers a bit, and redish, to make it right for the Brommie.