The price of the supposed Baofeng DM-5R has gone up in the last few days at Radioddity according to Delboy's Radio Blog since "launch" to around the US$90 mark ($89.99 in fact), still cheaper than the well established TYT UHF DMR handheld that is known to exist.
This still does not make me believe the radio is real though, until I see a working model online, even in the hands of Simon The Wizard or Dave M0OGY as the both of them I regard with anything to do with radios, I also have regard for Delboy as he is an active member of a lot of radio forums.
Once I know the radio to be real I should have one in the shack, and then upgraded for Tier 2 so it would work with DMR repeaters (none in my locale though because of complicated reasons) as well as properly registered for use on the DMR systems, though my initial tests will probably be into a dummy load with an RTL-SDR doing the RX and decode.
73 de M6RSQ
UPDATE: At the time of writing this they are, ironically, out of stock, perhaps they are out of stock because the product does not exist? Who knows? In the next week or so we'll find out.