Yes, this bat really exists.
Most people don't know that Easton continued to make new, fully unrestricted, juiced bats well into the 2000s, although due to BESR restrictions all of these bats were never released internationally, as they were not legal to use.
However, BESR restrictions were apparently were either never implemented at all, or weren't put into place for a very long time in South Korea. So as near as I can tell, that became the only country where a (very) small number of these bats were ever released in, meaning that to the broader world their bats have never-before seen.
That's the bulk of the information that I've been able to confirm through research; the rest of the information on this bat comes from its obvious specs and physical assembly. So while I am assuming that this was a proper bat, I would not be surprised if it was a highly limited production and/or some type of prototype.
This bat seems to be the spiritual successor to the Z2K, as it has it has the Z-Core/carbon-core composite inner lining and is made from the most advanced Scandium-alloy blend available; Sc900, meaning it's even more developed than bats like the Redline or Z2K (which were only Sc500); which probably means that the barrel is a lot tougher and has an even larger trampoline effect.
It also uses the opti-flex technology that Easton developed in the late 2000's, so this bat benefits from the two-piece construction method to reduce vibration.
tldr; It's a hybrid between the legendary Z2K and the Stealth comp bats.
Unfortunately however, this bat seems to have paint issues where it easily flake off due to how large the trampoline effect is, so I suppose that some things never change with Easton
Other than a few spots where the paint has chipped, this bat is in good original condition. There are no dents or cracks in the barrel, and the end cap is still solid. The two-piece connection point isn't loose and does not rattle at all.
From what I've been able to tell only a single one of these bats has ever sold on ebay before; and that was many years ago and in the UK. Even in South Korea this bat is as rare as hen's teeth, so I'd be shocked if there was another one anywhere in the USA.
Also, it should go without saying that I don't honestly expect someone to buy it now for $5k (though that would be nice), that price is (mostly) just to grab attention.
I have no idea what this bat is worth, but for how rare I know it is I have to figure that it should be significantly more valuable than any Z2K or Redline. Realistically if you're a high-end bat collector then you would probably determine the value based on what you're willing to pay for it.
Make me an offer for what you think it's worth.