I figured it is not a bad price for a light-weight (1.7kg) 8th-gen quad-core i5 convertible laptop with a PCIe SSD.
It has a USB Type-C connector, backlit keyboard, and 10-hour battery life.
It comes in just under the GST barrier.
Please note that the "Flex 5" is sold as the "Yoga 520" in certain countries. The comparable model in AU costs $1299, but comes with smaller SSD (128GB).
Is the ram upgradeable?