As you can see the styling cues are taken from the Ambassador.
Now consider the target segment for this limited run car. Its aimed at the new mughuls of India, the high earning corporate executives. Most of these high earners had rather humble beginning. A typical high flyer would have been born between late 50's to late 60's. Car ownership was very sparse those days and if at all their family had a car, 90% chance it would have been an Amby.
These guys would have grown up on the Amby. Learnt their driving on the Amby. Dated on an Amby. An Amby would have transported them to their wedding. They would have brought home their first born from the hospital in an Amby.
In short its a feel good car for these super flyer who must be in their 50's now, and who want to have mushy feeling after spending 4 crores
I was looking at the TV coverage and the car is loaded with features. Its uses Titanium and other space age material and the interior is simply mind boggling. But as being rightly said here, at 4Cr one can drive off with a Maybach.
Maybe DC is trying to upmarket its profile. It was claimed that DC finally got that recognition after the Aston Martin car designed and protoed by them. Maybe they want to prove that they can have their own upmarket identity. On paper this would look to be smart move. Only time will tell if it was a great idea.