It's two gear, so it's not great for inclines, and the belt and frame are less durable. I'm not sure it's worth the money once you learn bicycle maintenance (but you could say that about a lot of IKEA furniture and woodworking/metalworking)
My biggest concern though is that like all parts, the belt will fail eventually. A quick look online shows that new belts cost around $250, over half of the retail price of this bike!
Belt with two internal gears lasts much longer than a mountain bike 18 speed chain drive, but then you're comparing apples and oranges.
This is a bike designed for the Apple user, basically, except that it seems inexpensive, which is nice. If you never want to think about how a bike works, this seems fine. But my original point was to learn how to maintain a bike.
It says that the frame is powder coated. Powder coating tends to last a lot longer and survive more abuse than paint does. Also its a aluminum frame so it is not going to be rusting either.
If you leave your bike out in the elements and don't maintain it, any parts that do not survive prolonged exposure to heat cycle, water, oxidation, salt, etc will deteriorate. But that isn't even metal durability, that's just plain weather. Any bike will deteriorate outside.
Another downside is aluminum is stiffer than steel, making for a rougher ride unless you add suspension, get softer tires or significantly change geometry.