Yes, I completely agree. However firearms need to be classified with our current system whether we like it or not.
They are classified by the features they possess like barrel length, and other physical characteristics, as well as by their lineage.
So even if this firearm is legal by all the standards and definitions set out in the C.C.C. and F.A. the "lab" still can classify it by name.
So yeah it is a lot of assumptions, but lets face facts, the system we have is not what I would call "gun friendly", and legal literature or not, this firearm's classification largely depends on how the lab feels about it. So I will not speculate on what its class may be, or if the six round cylinder is considered a magazine or not.
So does it meet all the requirements to be NR/R based on its physical characteristics? Yes.
Could it be prohib because someone thinks it is too dangerous? Sure.
Is the gun classified? No, therefore We shall see if it is legal or not.
The point is that firearms are covered by the legal wording... including this one. Just not yet.