Video claims to show budget iPhone, will sell you Android imitation today

Some things just look too good to be true, and this extremely polished hands-on -- purporting to be the rumored, as yet unconfirmed budget iPhone -- is possibly one of them. However, this comes via sources associated with M.I.C. Gadget, which has previous form in this area, and it does tally with previously seen incarnations. So, is this just a collection of design cues put together in order to sell the "Bear" brand Android imitation shown later in the same video (past the break,) or could it be the real iPhone housing? At the moment we're buying neither, but with such a detailed set of images (at the source,) it provides a tantalising taste of what could be, if nothing else.