I think you are exactly right and was really what Ford wanted to do. However, when the botched introduction came out a few weeks ago, the "not street legal" comment really caused a huge stir. People really wanted a street legal, V8 truck. Ford walked that comment back, so now we will all see what that product truly becomes. I am not holding my breath.
I didn't notice that since I have no interest in the R. But it could throw a real monkey wrench into the works. Not being street legal might allow Ford to save a lot of money and time as far as all the federal testing and documentation goes. It might also let them do things like really nice aftermarket bumpers that are too high and too rigid to be legal, along with other interesting stuff. If that's true, and they decide it needs to be street legal, it seems more likely to get cancelled. If it isn't cancelled, it would be more likely to be just an FCA-style dump a blown V8 into an otherwise standard vehicle and walk a way kind of deal. Which would thrill the pavement princess crowd, so maybe that's the right answer. It will be interesting to watch. I'm glad I don't have a dog in this fight, there's way too much room for disappointment.