Parker released this in about October 2022.
It has the three inserts, and like Parkers other shavette, uses a half of a normal DE blade. I like the idea of no sharpening and stropping. I call it "throw away wear".
There is no adjusting "on the fly so I wouldn't really consider it adjustable, its more three razors in one. A possible work around is that you could put separate blades into the three inserts and you would be able to change blade exposure during your shave.

There is a little sharp edge on the pivot point, that needs to be filed down. I also would have preferred it to be a little heavier.

Clicking on the instructions image below will open a larger version in a new window

How does it shave?
Please keep this in mind. I've done a small bit of straight shaving and although I get through the shave, I never really get what the attraction is. None the less, guys out there love the whole process from sharpening, to stropping to the shave itself.
First shave with it, I used the "MEDIUM" insert with one of the Parker supplied half blades. I caught a weeper early in the shave, which made me slow down somewhat. The rest of the shave went fine until I decided to go ATG on my upper lip where I caught a decent cut right where my nose meets my upper lip. When using a straight, I also struggle going ATG in that area - I really should have quit while ahead...
It needs revisiting using the other inserts.