Ridiculous? Absolutely not. Are you ever gonna reach for this jacket over your Freewheelers or one of your Vansons? I know I wouldn't.
Jejupe, the Lost Worlds looks mighty cool! Don't be surprised if those "random" police controls start hitting you more often when you wear that thing! The only thing I could nitpick is the sleeve width at the cuff. Considering you're bodybuilding and certainly have accordingly large forearms and wrists, these cuffs look wide. Probably designed to fit shirt and suit cuffs under it.
Not only cuffs but also the sleeves are very wide. But I reckon they should be rather wide considering that this is an overcoat, not a motorcycle jacket design. Like you pointed out, they should be able to accomodate a suit sleeves in them without wrinkling or bunching them up. Although I must say that for me narrower sleeves would've been enough.