I agree, why air cooled? How many choices of aftermarket pipes would you think owners will have for this bike even after one year in production? 2-3 maybe?
Maybe they are introducing it air-cooled to see how the biking public reacts to it and to work out any "first year" kinks, and then they have plans to go to some version of water cooling afterward?
I wonder if all the chrome pieces are plastic? That would be too cheesy for me. Still, it's a 113ci, looks like it has some sort of rammed air config in the lowers, no stock passenger armrests, a visible handlebar clamp (yuck!), maybe a little too much chrome on the rear lights, and FOUR headlights PLUS running lights (YES!!).
Still, I see competition as a very good thing. BTW, the Indian dealer in Rogers AR told me everyone thinks the leather bags with no locks was a huge mistake for Indian and feels they will correct it next year. I have to admit, I looked closely at the Indians back in May '16 and then again this June. They seemed much nicer this year, and they offer much more power options on them now.