I rolled my eyes when I first saw this.
I still won't get one of these (the only way I'd be in the market for similar would be as a collector's trinket to pair with Moonswatch, and that's not my alley). However, after watching Hondikee's video on it last night, I have to say my attitude has softened a bit.
I was actually impressed with the level of thought put into a lot of the little details. Keeping Blancpain out of quartz was big, the novelty exhibition caseback, exactly fifty fathoms of water resistance, drilled lugs, etc. Some nice odes to the history of Blancpain.
This won't sell like the Moonswatch, not even close I'd imagine. But - I bet it does something bigger - I bet it turns a decent amount of attention towards the Fifty Fathoms. And I think that's their real goal here. Get us a little acclimated with the Speedy and then really go for it. I don't know if that was their original plan years ago, but if it was then that could be a genius long term marketing play to breathe new life into the Fifty Fathoms.