This is a crossover bass, serious upright players will totally dismiss it as Ibanez is not a player in the acoustic bass world.
Around here, they generally play the NS, Carruthers, Merchant or Clevinger for electric upright.
I generally play my Shen with a Full Circle pickup but this will be nice to own. It's cheap, small, portable, they sound good, don't feedback and you can play arco on it.
From an audience' hearing perspective, no one can tell the difference if the bass is an amplified acoustic or something like the UB804. In my experience most people just want the "look" of an upright on stage and couldn't care less about the sound of it. If it's a legit show with a string section, that's different.
A good thing about the UB804 is that it will expose more players to the concept of an upright because of Ibanez' huge presence in the marketplace. You will see these in stores where the other brands don't appear.