It doesn't look like a squat at all. It looks like what it is - an industrial-chic, open-plan flat in a premier area that has had high-spec architect attention and fittings.
Yes it would probably cost a bomb to heat but not because it isn't insulated or properly treated, it's been very expensively done. I don't think you worry about heating bills a lot when you can afford to drop 2.5mil on an aggressively cool Clerkenwell flat which is really for a single person.
It's not exactly what I'm looking for at this stage in my life (and the photographer deserves to be shot for making it look so dark, I really doubt it is) but I love the look.