If you go to VW.de (VW's German website) and go to configure a Touareg, you'll notice they have a Touareg "One Million" edition. It's something like 20k euros more than the base Touareg (which starts around 60k according to the site) and you can still add options to it.
It's not as common as previous generations, but I still see it once in a while here. I'm still not settled on an opinion about it. It definitely looks nice and luxurious, but it's also about as big as a Q7. I think the older Tregs were the perfect size, for me at least. And it kinda sorta looks like a Q7 too, for sure the design is not an evolution of the older Touaregs. That, to me, is also a negative as the older models looked uniquely Volkswagen. Now they look like corporate VAG cars. I still enjoy driving my T2, even without a V8, and I really don't know if I ever will move to a newer one, at least not while it's still runs well.
Wish VW would offer this version here in the NA. If they think the Atlas is a substitute they are kidding themselves. Not even in the same universe. Atlas is a American Tahoe and the Touareg is a Cayenne stable mate.
It seems that VW is doing something of a reset with it's SUVs. Instead of offering the T5, which has really jumped levels and has become basically a VW badged Q7, they've gone back to the proverbial drawing board and come up with something that is lesser than a Q7 in order to spread the lineup more evenly. This way you'd have your entry-level family SUV (Atlas), your luxury SUV (Q7), and your sport and hi-performance SUV (Cayenne). And even though there are two other SUVs that are built on the same platform as the Q7, Cayenne, and the new Touareg, you can (if you have the means) move into that level, namely the Bentley Bentayga and the Lamborghini Urus.
With the new T5 Touareg I still wonder why they even bothered making it so similar to the Q7. Unless the plan is to eventually move the Q7 more upmarket away from the Touareg. We'll see.