...higher capacity models also had further weight reduction from lighter components. Is that not true?
The "Carbon" version has carbon fiber bodywork and maybe some other bits. Custom carbon parts engineered and manufactured to actually save weight, not just looks, cost as much as they are asking for the whole bike. That's OK since a 20kWhr battery, 90kW motor, and high power controller also cost as much as they are asking for the whole bike. Since weight savings with carbon are a low benefit to cost option it only makes sense once you have done everything else. The numbers on these things just don't add up.
I watched the same thing happen with the Elio Motors fiasco. Somebody got some quotes, looked up some parts in a wholesale catalog, and decided they could build a car for cheap. I'm speculating here, giving the benefit of the doubt. I think most people start out wanting to be honest and do something great. Details just tend to get in the way. Engineering is hard. Manufacturing is hard.