It's in the "not really a truck" truck category. Like the Honda, it might have some initial sales, but I see this flopping.
Toyota has long been a pretty strong player in the truck market, and even they have struggled against the Big Three in trucks. Toyota long ago figured out that their trucks had to be, well, real trucks. It's taken a long time, but today I know lots of contractors and others that use their trucks as work vehicles that consider Toyota a credible player. Honda? No.
So, take out a large percentage of your total market, and try to sell to the rest? Good luck. The Ridgeline was a gamble, and good on Honda for going for it, but I hope VW is setting their numbers goals very low.