It is clearly a marketing exercise . However they could have shoved a 28XX or Sellita into a fairly generic case, but chose to do much better than that. I think it is a noble effort, I wont be buying one though.
The movements from Lehmann Schramberg look great, the whole watch is totally German, and it is nice to see another German watch.
Some of the functions are interesting and very well worked out.
I guess I would actually like it more if it didn't have the Leica name on it, mostly because it is so the obvious move for Leica that it is almost intrinsically boring.
It has started me looking more closely at Lehmann Schramberg and other makers they associate with