I thought it was reverse engineered from megatron?

As an (student) industrial designer I can see where the Droog guys are coming from - if you've seen their work it is hard to deny that they consistently challenge conceptions of design. I will happily admit that the price seems excessive, but there are all kinds of arguments to justify it, some of which I would buy into more than others. If it was sold as a performance art piece people would probably wonder why it is so cheap.

Of course, you only have yourself to blame if the chair is uncomfortable....

@7
My first thought too. The hula-hoops could be resold/given away/donated to kids charity, but the zip ties?

wicker comes to mind, but it just doesnt have the appeal of the hula-hoop does it? I guess it's the colour as well as the shape. Perhaps they could just use a different fastener.

Or make it a touch lamp.

Or scale it up and use it as a disco ball (flashing to the beat of the music of course).

I can't wait for the fabbing revolution!