Yeah well I think we all have preferred riding positions. I'd get very tired of reaching the handlebars, but that's just because I have a different reason of riding it. Maybe if you took it around town for a bit or had a short commute, you'd enjoy it. It all depends. Have you ever been on it?
It would be horribly uncomfortable--as it is, the grips are at least four inches below the seat.
The bars are adjustable, and could be turned up quite a bit--but then the problem is that the pedals are still pretty far back. With the cranks horizontal the rear pedal is underneath the seat--and that's not going to feel good for long.
If you put on a small pair of footpegs, forward of the "pedal/foot radius", it would be a big improvement. The front exhaust pipe is kinda in the way though.
I've said this elsewhere, but I got into it when I was building the frame I did--it's just about impossible to make a frame that looks authentic and that is still really comfortable to ride.
Incidentally, the grey Excelsior behind it in the photo has "road"-style Shelby handlebars, that are one type of bars that a "normal" motorcycle would have had. I made a pair of these style for mine and they look nice--and they feel fine once you get going 7-8 mph or so, but are very difficult to steer well with at low speeds due to the excessive tiller action they have.