The original configuration was MUCH more SCAR-like, but FNH threatened them and that got changed real quick. The newest look is, in my opinion, rather ugly. If it were well made, I could get past the appearance, but it is not. I dont know what kind of "tactical" 22LR rifles you guys have access to in your country, but over here at least, there are better options for the money. Smith and Wesson's .22 AR and Sig's 522 are near the top. Both can be had for under 400 bucks and are as reliable as the day is long.
ETA: and as for the sights, those are clones of HK MP7 sights, built for a submachine gun with a folding stock. When the stock is extended, you use the sights folded up like rifle sights. When the stock is collapsed, you use the dot sights and treat it like a large pistol. Im guessing ISSC had a stash of them (likely airsoft copies) and put them to use on this rifle.