Well you don't live in a place like NYC or Tokyo, do you? So naturally you wouldn't buy one.
And why not buy a Vespa? Maybe because this thing carries 2 people more comfortably than a Vespa would, has a roof over it, and has some sort of computer navigation controls. Also it's just a concept vehicle intended to showcase ideas, nobody is forcing anyone to buy it.
As for how gay it looks, it's intentionally made small & short for good clearance. It's basically just a seat sitting on 2 wheels, so how fucking "masculine" do you expect it to look?
And besides, I thought only gay guys worry about how they look while driving/wearing certain things?