I think that it is not a prototype as a prototype has the characteristics of the final product.
I would call the bike shown in the Kickstarter campaign video a concept demonstration, not even a proof of concept because the bike needed a complete redesign.
The proof od concept step (that demonstrate that the concept works and prototype step (product very close to the final product but for instance hand built) were skipped.
Peter is in fact trying to make in one step both a proof of concept bike and a pre-production bike (= what validates the manufacturing process).
Now the chance for Peter to be first time right in any aspects, i.e. that there will be no need for any modification/improvement nor for the design of the bike, nor for the manufacturing process, so that this bike will really be a pre-production bike seems to me very low