Never even been up close to one, but: a 95 knot aircraft that can barely take two grown men and reasonable fuel yet costs A$210K? It may make an impression on some busy training outfits if it really is very tough, but you're not going to sell them to anyone else, are you?
Smart shoppers would buy an LSA or something like a DA20 instead, if they want certified GA.
I'm surprised it took them this long to go under. I never wished them ill, but I also wished they'd have made a more commercially viable aircraft. There's a market for $200K GA two seaters, but you have to make it competitive.