WOW, indeed. The instrument's PSU and DC Load sides can be controlled from the front panel. The battery simulation side just says Battery Simulation on the front panel, and it's all run via BenchVue. A whole 33% of the instrument is useless without the licence, but that is sold as an optional extra. Initially, it was an annual rental only, but after some pushback, they graced us with a node-locked permanent licence. Rather than the more obvious choice of just throwing it in for free with the box.
It is impressive marketing. It sets the tone for how Keysight will approach customers in the future. I posted a comment on one of their YouTube demos and had a nice video call with some KeySight people. They were interested in the instrument from a technical side. When I raised the licence issue, silence and shrugs were all that was forthcoming.
The unit would be an improvement over my Keithley 2281S-20-6, for me at least, because you can generate battery models. The Keithley can, but at a discharge of a fixed 1A. Keithley steers you to an SMU to generate the models.
I'd buy one tomorrow if it weren't for the stupidity of the licence. I'd probably keep the BenchVue behemoth in its own VM. The licence manager is seriously invasive.