There will be torque multiplication by the transmission in 1st through 2nd so it won't be as much of a dog as you think. Race car, no. But it'll hold it's own in modern traffic unlike a lot of older cars.

Out of curiosity I looked up the ratios for the mentioned 4L60 transmission: 1st is 3.059:1, 2nd is 1.625:1, 3rd is direct drive at 1.00:1 and 4th is overdrive at 0.696:1. Then you'll have the ratio in your rear differential, whatever that happens to be.

My high school car was a 1975 Impala with the 350 cubic inch small block V8. Because of the Malaise Era emissions laws, it only produced 145hp but still had decent torque at 250ft·lb. It had a huge amount of space under the hood so perhaps this could fit both the motor and battery in there? (F/R weight balance being ignored)

Your point about people comparing this against the LS crate motor is correct IMO. This will be an expensive low-volume kit until (if!) economies of scale kick in. Only bought by people who want something different to show off to their friends at the weekend car shows.