The pushbike space has been looking pretty stable lately, with the OG German plywood Like-a-Bike being rather completely surrounded with Chinese knockoffs in dozens of variations. Hundreds, even.
But this is pretty interesting. It's the Ace Bike from Japanese cycling brand Doppelganger. And it has three adjustable saddle heights, from 28-41cm, and two handle heights, 44-47cm. I think it's pretty ingenious, and it helps squeeze out a few more months or a year from the bike, which can help your kid get ready for pedals.
Unfortunately, the Ace Ride is also plastic. Heavy duty, recyclable plastic, sure, but still plastic. Maybe that doesn't matter. Maybe it's fine. For me, for JPY9,000, I'm happy just watching this animated gif, but you might need a little more.
Doppelganger Ace Bike in RD or BK, 9,000円, available in various Japanese bike shops [doppelganger.jp via gizmodo, thanks dt reader rolf]