I think it and the Hyundai santa cruz (which I think looks nicer) are great ideas (I also wish the Subaru Baja continued production).
Most of the pickups I see today are four doors with short beds that never haul anything of note, and are a pain in the butt to use for normal truck things like hauling a full sized couch or drywall, which most truck owners never use theirs for anyways. Big ole trucks are cool, the ride height is nice, and it makes the driver feel invulnerable, which is nice, but most people doing a sober assessment of their needs would find that they do not need an F150 or Tundra, and even less so the bigger 250s, 350s, 2500s, etc.
Now when my Tundra was on its last legs, I made that assessment, and honestly it was really hard. I loved the Tundra, I felt cool driving a 21 year old V8 4x4, I loved being able to toss my mountain bike over the tailgate, throw fishing rods in the bed along with my wet waders and boots, and toss geese from the hunt in before getting home to process em. Beyond that? It was a pain to park in the city, it got 15mpg if I was lucky, anything in the bed of value had to be moved to the cab if I stopped for lunch somewhere, and anything in the bed damn sure better be waterproof. I concluded that feeling cool wasn't enough reason to pay the inflated truck prices and landed on a 2021 Subaru outback. It gets twice the mileage, was $15k less than a sparesley specced 4x4 tundra, has more leg room for me, way more for passengers, hauls all my gear securely, and handles like a dream.
All that said, if one of these 'lil trucks had been available, oh man I'd be on them like stink on poop. That bed space does all that the vast majority of truck owners would ever need, toss small furniture in there from the garage sale, bikes, wet clothing/gear, etc, while retaining the other benefits of not having a truck, and at a crazy low price to boot. I truly hope ford sells huge amounts of these and we can get back to the small trucks of yesteryear.