It is true, Vic's bikes are parts bikes.
Aren't all of our bikes parts bikes too? They were assembled from parts bin in Japan.
Vic has gathered the parts and assemble them himself. And as somebody pointed out, at least the frame was a "sandcast" and was a bike sometime in its previous life.
Buying one of Vic's bikes is today the closest way to buy a sandcast from the factory back in the day. it is a niche market, he sells a product for a very specific kind of customer, somebody who owned one when they were new and today, with money to dispose, want to relive the sensations: the noise, the smell, the thrill he experimented when he was younger.
Anybody who had restored any bike know how much time and money it takes. Add to the recipe that sandcast parts are few and far between, expensive, and in many cases, have been stored for years -with the storage costs involved-, and the price of Vic's bikes doesn't seem to unreasonable. If you look at the bike as a vehicle, you can get more for your dollar with other bikes. But if you are looking for something in particular -a sandcast like the one you had back in the day-, Vic World is probably the only way to go, be it buying from him directly or from any of his customers.
Regarding the bike in this listing, I bet somebody bought it out of nostalgia, had it for some years, put very few miles, and today he had realized he had already fullfilled his dream: owning a sandcast again. But the thrill of ownership is gone, it was gone just a few days after he parked the bike in the garage. Now it has become an expensive museum piece and he would like to sell it and recover the money, and let somebody else enjoy the pride of ownership too.
That's why I believe you can never fully enjoy a sandcast if you are afraid of it being dropped or getting mileage. At the end of the day, they are just a bike, and bikes are built for riding.