They don't have a monopusher movement anymore. Even for a company like Seiko, it's probably not feasible to do a new movement, especially for just a Presage. Maybe if it were for a Grand Seiko or Credor.

By "chronograph" it's referring to the original 1964 Crown Chronograph that this is an homage to. However, this has a 4R35B so it's strictly a 3-hander. Any "chronograph" functionality comes from the bezel which looks like you can rotate (it was bi-directional in the original 1964 Crown Chrono) to the seconds hand to time a minute. For a proper chrono in this style, look for the SARK015/SRQ031J1, which was released for the 55th anniversary of the Crown Chrono.

EDIT: Turns out you can't rotate the bezel. That was only for the 55th Anniversary one.