To me the Velar is an exercise in luxury design and execution targeted to properly rich buyers who want to differentiate themselves from the well off folks driving around in their common BMW, MB, Audi, Lexus, Jag, etc....
Personally, I like the design in and out and I'm sure that if you start looking at the details, you will find a lot of things beyond the spec sheet that will put the Velar above the common luxury offerings in terms of luxury. I also expect to see quite a few areas where form takes precedence over function in such a vehicle (all-digital central console for example).
At the end of the day this is a statement vehicle more than anything and to my mind, there is a market for this especially in the affluent areas. I already started to see quite a few of these on the road in GTA in the past month or so. Kind of hard to spot them in the sea of RR Sports I see around these parts.