What sort of crazy ignition gimmick is this?

They were decent for what they were, not a gimmick at the time.
Lots of versions of basically the same unit- Delta MK10, Heathkit and Archer (Radio Shack) both had kits for the do-it-yourselfer...
Here's the Archer kit I built and ran on my GTS when I was 16:
1722634493137.png