It does seem "modern" in the sense that it is incredibly limited in functionality (EDIT.COM from DOS is much more full-featured) and deviates from well-established UI conventions.

CUA-style menubars aren't that uncommon in textmode editors. Midnight Commander's editor has traditional menubars with much more extensive functionality, as does jedsoft.org's Jed editor. Both of these also support mouse input on the TTY console via GPM, not just within a graphical terminal.