Colt originally developed the 901 as part of the US Army SCAR program, with the intention being to create a 7.62x51mm rifle that could also use unmodified 5.56x45mm upper assemblies. This would allow special operations units to customize a single weapon to a variety of different configurations for different mission profiles. Mechanically, the system Colt devised to do this was quite clever, and very effective. However, the rifle ultimately failed to win a military contract.
Moved to civilian sales, the system was unsuccessful fundamentally because the modular concept is just not very desirable. A single modular rifle like this inevitably sacrifices some capability in every specific configuration in exchange for the modular capability and most people would rather have two dedicated rifles in different configurations than one swappable one. It sounds appealing on paper, but almost always fails economically in practice.
This particular rifle is one of a small batch purchased by the San Bernardino County law enforcement and later traded in and sold commercially. Thanks to the viewer who loaned it to me for filming!
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