I have not seen that livery for real but I can concur with their pledge. They say, Low cost, but not at any cost.
That indicates that that they are not going to charge small prices ... since the cheapest fare I could get on the LGW~IOM route (booking 10 weeks in advance) went from £85 to £154.86 (includes £13.98 for one suitcase) then I can say that they are not scrimping on the costs at all.
This will reduce the number of times that I fly the route each year. As my mother gets older, I had expected to increase the number of visits but this will make that very difficult to do.