MakerBot Print is our newest print-prepration software, which supports native CAD files and STL assemblies,
allows you to interact with all your printers via the Cloud, and many other exciting new features.

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What am I missing here?

No matter if you slice it laying down or standing up the first few layers have ridiculous overhangs.

Looking at the picture with the actual print lying on the printer bed I can see the support structure. Anyway this should be tagged appropriately requiring supports. It is a beautiful design and easily fixable but still a bit odd.