Boys were absolutely nuts for model airplanes in the Lindberg-ww2 era, probably more so than for bicycles. It's a golden age for model airplanes.
This Glide-o-Bike does not look like it would work, but it does look like a contemporary model plane, with the very short nose due to the heavy engine. Some models had to lift off the ground or have a certain box size within the fuselage but the pure ones were really strange looking if you are accustomed to looking at 737's. I built something like this in the 1990's though I think mine was called a Texan...