I've just seen this video linked from the comments in the Campaign which kid of rips apart the proposed spec for the camera!
He's missing something - a fixed aperture around f2.8 is not unusual for cellphone cameras, and they manage to produce correct exposures in bright light. They do it by activating the pixel wells for a given amount of time, in effect using a purely electronic shutter. (Cellphone cameras don't have physical shutters.) If the Yashica is to work with the given spec, then it would need a sensor-based shutter that activates while the (presumably) mechanical one is open. In other words, at least in cases where there is too much light for the specified shutter speeds, the camera would have to override with faster speeds at the sensor. For duller conditions, setting the dial may well control how long the pixel wells are on for.
Alternatively, it could have a built in ND filter that makes bright light doable, but that could introduce constraints in low light, even with 1600 ISO. For example, with the 200 ISO cartridge thing and 1/500, you could have an ND filter that gives an effective f11, but 1/30 at f11 with 1600 ISO will struggle in some low light situations (while 1/30 at f2.8 might be fine).
A hipster toy seems about right to me - a camera for people who want to be film stylee trendy-retro, but can't be bothered with using actual film.
Before the reveal, I was hoping for something between the Fuji X100 and digital Leica M - the Fuji's form factor with the M's manual simplicity. Something with an APS-C sensor, fixed lens with actual rangefinder manual focus, manual shutter and aperture, a built in meter, and various film emulations. Basically, a digital version of cameras like the Olympus 35RC or Ricoh 500G.