That jacket is not designed as a lightweight backpacking jacket. Look at the website - it is made for climbers. Never seen one in person, but my guess is part of the weight is to make it as sturdy as possible for the weight it is. As far as it being a "bad design" or poorly made, I doubt it, but it may not be the jacket for you because it sounds like you don't intend to use it for its designed purpose.

I'm not a "gram weenie." I don't consider trading warmth for a few ounces to be much of a bargain. I'm one of those people who hates being cold, even though I enjoy winter camping, so go figure.

See that parka I have on in my photo? It is about as heavy as my sleeping bag, BUT, it will keep me warm in temps far lower than I plan on being in anytime soon which is why I bought it. I have a much lighter down jacket as well, but nowhere near as warm as "Big Red." Worth every ounce to me.
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Don't get me started, you know how I get.