As people said, very '80s in design but I can see it working medium-to-low-strung played pickstyle in a Hard Rock/Metal band. It's been years
since I played one (at the time, it was a choice between the 707 and an SR-800, in which I chose the SR and never looked back) but from what I remember it was Japanese-made (very well), had close to the typical thin Ibanez neck, and sounded very nice with a pick.
If I came across one now I'd likely swap out the OEM pickups for most likely EMGs or Basslines with an active preamp - I remember getting close to the classic "Spector grind" from the passive P/Js
alone and think that an electronic swap would only improve the tone. If it's selling for much less than you think it should be, I'd go for it provided you're a fan of the SR-type neck. Even not counting that, it falls into the "oddity" category and I doubt you would get hosed should you decide to resell it. I believe the Shark's Tooth inlays in the 727 were made in much less quantity than the 707 so also count them as a plus.
One thing my old-school SR-800 had which to this day I think was a great
"invention" and should be revived is the "Accu-Cast B IV" Bridge
, in which all the saddles rested on a master plate that had the same radius as the fretboard, could be raised/lower with 3 allen wrenches, and made setups a great deal
easier and quicker because of it. This bass doesn't have it, but it was introduced soon after and is an "missed innovation" I always think of when Ibanez basses of the early '90s are discussed.