As a Euro-pallet hauler, this isn't the most absurd implementation I've seen so far, as it sits low and has the rider in a recumbent position and is non-articulating. This would tend to make it harder to lose control when carrying a large payload (ie a trailer wagging across the road).

On the other hand, the lack of a direct chain, belt, or gears disqualifies this from the California definition of "bicycle", which in turn disqualifies it as an ebike under the three class system here. If it weren't for that, this four-wheel ebike would be legal here; other jurisdictions will vary.

But I think we need to address the elephant in the room: hauling 454 kg is well in excess of what would constitute normal bicycle or ebike traffic. A while ago, I had a thread discussing when the "micro" in micromobility ends, and I think this definitely crosses the boundary into commercial goods-hauler.

Not to say it shouldn't exist: I can see this perfectly serving the role of last-mile delivery to restock urban shops. But this shouldn't be ridden on bike trails or through parks, and instead should keep to street-adjacent bike lanes along existing commercial delivery routes. The benefit to distributors would be the ability to squeeze past automobile congestion. The faster-than-25-kph-version properly deserves to be regulated as an electric scooter, but the 25 kph model can plausibly coexist with motor vehicles on 30 kph (~20 mph) urban streets.

In short, if this goods-hauler can operate on existing roads and displace delivery motor-vehicles, great! But if it can only work by appropriating space on bike paths and other pedestrianized spaces, that's not good.