I see from this article on Good.Is that it's going into production.
From the article:
The all cardboard bike is shockingly durable: it can carry riders who weigh up to 485 pounds. A layer of coating atop the cardboard shields the bike from the elements and gives the finished product the look and feel of lightweight plastic. While the cost to make the bicycle ranges from nine to twelve dollars, the manufacturer expects to sell the vehicle for sixty to ninety dollars depending on the optional addition of an electric motor.
At $60, it's a cheap date. It does not have the advantage of being easy to fix and modify that metal bikes do - although, if it becomes as common as metal bikes are, that problem may disappear. Mostly, though, I think it's more a curiosity than a useful item.