Ha!
I thought the same thing, when I read that letter.
The Schwinn lightweights at that time, we’re pretty much a complete knock off of the best British and French bicycles of that time.
The frames were made by Belgian expatriate, Emil Wastyn and most of the componentry was of British design.
To be fair, the introduction article does say, that the new Schwinn lightweights, incorporate all of the best features of the most expensive British and Continental designs.
So, they were trying to emulate the best of the European sport bikes.
In that, I’d say they accomplished what they set out to do.
They just weren’t affordable compared to what was being imported.