I know them from all the 'Best Microbrands of 202x!' videos I see when I fall down the YouTube watch rabbit hole. Them, Unimatic (brutalist Marmite, though I love), and Anordain (stunning enamel, but now north of $6k and long waits) are on pretty much every one.
Baltic seems to put the cost in the case and dial finish, and on paper the Miyota 9000-series movements should be the weak spot, with a 40-odd hour power reserve. But a buddy has one that he swears sits at a consistent +2 per day, and I've read similar online lots of times, so they must do a great job of regulating them at the factory. Adding a Sellita SW-200 or equivalent ETA would probably add $300+ to the price with minimal functional benefit beyond the Swiss cachet, and pushing them into competition with Christopher Ward, Ball and the like.
I think they started as a Kickstarter brand out of France, and there was some resistance for a bit from the cognoscenti, but they've been around long enough now that they've made the transition from uncool (new, unproven) to ultra cool (quality built, great value) to uncool (too hyped) back to regular cool again.
One thing I'll give them credit for is with the vintage styling they were ahead of the move back to sub-40mm watches that seems to be the trend these days...
Speaking of watch YouTube, I've seen a few of the guys who do the bargain watches cover these, as they're supposed to be decent value. They and Steeldive seem to be the most consistent of the Chinese <$300 bracket. I think they even made one with a Swiss Sellita movement for some ridiculous low price like $200 USD, though I always wondered if that was a publicity stunt. Like most of the Chinese brands, I suspect the depth ratings are more theoretical than tested, but that's true for a lot more brands than would care to admit. When 30 m is only good enough for washing your hands, it's all a bit weird...