Pedaling it without the electric motor would be difficult, I think. $7,200 is a reasonable price, really - especially for a startup. It is a two person vehicle(IF you don't use the cowling?), and if you compare it to say the Organic Transit ELF, which is one person human electric hybrid that starts at $5,000 (white only). Colors cost $125 more.
The battery in each is similar (ELF is 48v while the Veloschmitt is 36v) and I think the ELF motor is 500W or 600W, while the Veloschmitt motor is 250W. The Veloschmitt looks 'cooler' and more aerodynamic.
The ELF has a solar panel (60W with a 100W optional), and that is a big advantage.