During the Old Republic swoop racing was a prime sport. This particular swoop bike was developed and released shortly after Revan left for the Unknown Regions. It was the fastest racer ever developed so far, but what it made up for in speed, it lacked in maneuverability.
Ex-racers became the primary consumers for this bike. It gave them the stability they needed for their age, but allowed them to still ride swoops. And with it they could boast "My swoop is faster than your swoop."
The secret to its stability was a improved repulserlift design that was hyper efficient. This breakthrough was never shared, however, and because racers hated the lack of maneuverability the technology was not pursued.
Years later, however, an inventor discovered one of these swoops and reverse engineered it. It is off of this technology that swoops were able to be smaller during the modern Republic, the Galactic Empire, and beyond.