Update.
Terry at BMS looked into this and followed up with me.
He acknowledged that the one I received was defective. But, unfortunately the batch they got is already sold out, so he couldn't send another immediately. He issued a refund instead.
I still want one, so I'll have to wait until they get another batch.
Excellent customer service from BMS!
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My 2017 M240i: MHD, xHP, Modded OE Intake, AA GESi 400 CPSI Cat DP, Dinan Mid-pipe, M Performance LSD & Rear Diffuser, BMS Exhaust Tips, Apex EC-7 Wheels, M-Tech Front Lip, iND Painted Mirror Caps, Smoked Reflectors