Seems like they put a lot of love into for just a short commute.
I reckon the bike industry relies heavily on people who just this sort of thing (for more evidence, check out the sorts of bling people are riding during cat 4/5 road races).
If I were at all interested in this bike, I'd definitely do my fair share of due diligence to be sure the bike wasn't stolen (should be standard CL practice). I suspect that if it was stolen, we'd see a post on CL or even here about the bike being missing.