First and quick look - yes it looks too small. With bike shoes your saddle will drop, but there's also an issue that the reach looks a bit short. I get the feeling that position will not be sustainable for an hour or more. The fact that you are asking if the bike is too small tells me it probably is.

If you can move the extensions out so your knees aren't so close to your elbows then its a good enough option. The issue is that you are at the max. Is that your final position? Looks like you might want to stretch out a bit. in that case, it's going to feel too short for you.

Is the seatpost height above the max height line or is there still some wiggle room? If not then I'd say pass because you'd run into a dangerously low surface area for the seatpost which could/will give way suddenly presenting a safety hazard. Plus if you run a very long stem your weight will be distributed way too forward potentially over that bike frame size designed center of gravity. Meaning potentially bad handling characteristics because it's too small a frame.

Now if you wanted to use this bike for trainer only use then have at it. For actual riding outdoors I would pass personally, it seems not worth the safety risk.

Thanks for answering. It's not my final position it was the position he was riding and since he was a similar size than me (193 vs my 195cm, or 6ft4 for both of us) I just took a picture to see if I had wiggle room to adjust it to a good position for me. I agree it looks a bit bunched up, but it looks like I can still get some extra reach by moving the extensions forward.

Definitely too small... there's nothing worse than riding an ill-fitting bike. If the price is extremely low, and you like the components, then you could always buy it for that and get yourself a frame that fits. Otherwise, move on.

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"Suddenly the thought struck me. My floor is someone elses ceiling"-Nils Ferlin

Its always a bit odd to have a seat post flipped in the forward offset position and the saddle rammed as far forward on the rails at it can go. It means you are either at the extreme limits of the bike and the geometry isn't really working for you or you have tried to fix a saddle issue the wrong way and ended up in a messed up position. In either case I don't think that saddle position is right for you and it gives you a bit of wiggle room in terms of fit.

Hard to tell from the photo but it looks like you are too far forward relative to the BB based on where I think the pedal is on your shoe. This is not surprising given you are ridding a bike that is one small size for you and yet has the saddle as far forward as possible. This is good news as it means you can move back and gain more reach before even touching the front end. You may even be able to drop the seat post a bit as you move back and open up your hips a bit more.

yes

Big mistake. It's too small. Don't try talking yourself into buying a bike that doesn't fit. You'll be buying another bike within 12 months or worse stuck with that one.

Well, thanks everybody for all your answers. It doesn't happen very often but if I managed to make slowtwitchers agree I imagine the bike is indeed too small for me. So I'll pass and wait for something else.
Since we're here, I may ask another question. Given that this bike has a stack of 548 and a reach of 417, could you provide some recommendations for stack and reach for me?
I'd say a stack between 550 and 560 and a reach between 435 and 445 would be a good call for me. Would you agree with those numbers?