When that thing was current the target market for it was mostly men who just needed cheap work transport, couldn't afford a car, and buses probably not the routes they needed with emphasis on cheap, it was still austerity days, still lots of things on ration, and very little disposable income for the working man, unlike today.
Its a cheapo bike, probably availiable with direct lighting, which could be uprated as and when. Accessory catalogues such as from Halfords, Marble Arch motor supplies, Grose and the like are a mine of information for add on bits from those days.
The bike should be looked at in its place in time not as some two wheeled treasure.