I like that someone is trying to bring back the externals, but disappointed that they seemed to have failed so miserably. Frame looks poorly designed, and the pack bag looks like an internal frame that they just modified for the external frame. They should be able to go a lot lighter by getting rid of a lot of the extra "features." I'd be interested to see how much less the cuben weighs.
A bear can wouldn't be a problem though, there is plenty of room underneath the bag to attach a bear can.
My Jansport scout only weighs 3lbs. and IMO is better designed with an S curved frame. Also, I don't see the need for the "hang bar" on the top, curved or square. I took that off my scout, and it stays on the frame just fine. It has more volume than I need, but it's carries the same load more comfortably and with better ventilation than my Internal frame that weighs the same.
In this pic from last weekend's trip, you can see mine with the top two bars removed, and my brother is wearing the exact same pack with the top two bars intact.
bigger version: http://www.flickr.com/photos/nlarsen4540/9438275807/sizes/h/in/photostream/