I agree. The mach-e looks like a crossover suv. It does not look like a mustang. I would imagine the venn diagram of young drivers that would choose the mustang vs mach e do not intersect.
Maybe ford is targeting older people who are at the stage where they give in and get a "practical" car.
The Mach-E has 4 doors, AWD, and is nearly a foot taller than the current Mustang. Its base MSRP is $10k (more than 30%) above the base Mustang.