The "SteakHouse" indoor grill's verical design is more than just a space-saving trick—and if you look at more of the pictures you'll realize it's not that small in the first place—but instead designed to allow fats to drain from the food into catch trays, preventing them from smoking next to the heating elements. Heating elements on both sides of the food tray speed up cooking times.
Is it worth €150? Probably not. But it's a striking piece of kitchen gear, looking more like commercial kitchen equipment than some other cheap, plastic grills.