They have sold millions of them. They were a christmas hit in several countries...
Exactly my point. Not all products need great engineering, this is a poncho made out of blanket material and their production, marketing and sales team have managed to shift millions of units with ridiculous margins.
Why crazy? It looks like a modern incarnation of the Poncho, a common garment in southern south america. I have one since childhood, it's great for the winter :)