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I can see a pump action in states that won't let you own a semiauto but I think the .222 Rem is a typo. I don't think Troy makes any rifles in .222 Rem. But yeah I wouldn't pay that much for a pump action AR......
These are marketed to places that don't allow semi's, and/or don't allow civilian firearms chambered for military cartridges. Some don't get shipped, and are offered to those of us that just might have an interest in owning something a bit different.
We don't see them often, as collectors buy them up, but even the Mini-14 has been available in .222 from time to time.
Smells Canadian. Although it would probably be a very accurate AR if they are using a good barrel. I've had a number of triple deuce rifles over the years and they can be scary accurate with a good worked up handload.
The .222 lingers on in some countries because they didn't or still don't allow their people to have "military calibers". Mexico, Italy and Spain have laws like that. I know France did, but I vaguely recall reading somewhere that was changed, though I could be mistaken. If I recall correctly, the .222 Mini-14 was specifically for export, that's why they are so rare here.
I favor @WAYNO's theory. (I wouldn't want one at any price, but certainly not a grand.)
Parenthetically, the .307 Winchester that was put out in the 80s was a pretty big flop in the US market, and I've seen at least one op-ed using it as a cautionary example of how a new cartridge can fail. However, it is supposedly very popular with hunters in Spain because it has .308-ish ballistics, but is not interchangeable with 7.62㎜ NATO, therefore it is allowed under their legal system.