They may just be right.
I’m thinking of it as a Sport Truck. Fast, decent handling on/off road, lots of storage for road tripping, rugged exterior less prone to dings, decent towing capacity, possibly a base for camper conversions. Like how cool the Chevy El Camino and Ford Ranchero were back in the day.
If we follow through and get ours, it will replace our Honda Ridgeline beater and get used for trips to the dump or Home Depot or whatever. Or to tow our dump trailer and utility trailers around as needed, mostly locally. Wretched excess for our needs, but likely to be the last truck we’ll ever buy, and we can afford it, so why not? But after the initial thrill, I suspect most local driving will still be in our M3.
In summary, it may very well be a niche category, but one that may have sufficient appeal to be a sales success. Time will tell.