I think it’s “Steel *can* be real”.
I’ve had a recent Inbred and tbh I really don’t see anything to recommend apart from bang per buck cheapness. I’m led to believe by some that the pre CEN reg bikes were much more fun and that beefing them up to pass the safety tests killed the pop. Maybe.
I have an old Mk2 26″ Soul which is everything they talk about in steel attributes. It’s a lovely bike (although the frame is currently sitting in a box). It’s worth noting that very big riders will notice chain stays flexing just pedalling the thing round the carpark.
I have a Soul275 which is good, but not quite as much – although what it loses in springy poppy fun it gains in do anything go anywhere dependability feeling without being as buzzily solid as my old Chameleon which had a similarly indestructible feeling.
My very favourite ‘steel is real’ rides though would be an old 26″ Orange Clockwork or an 80’s Kona Firemountain. Both of these bikes feel confident but don’t buzz you with chatter and have a lovely musical, tinkly bell sound as you gently run hose water over the tubes when washing them. The Kona was never mine and the Orange is too small for me and doesn’t support disc brakes – or else I’d probably not want anything else…