To make a more accurate comparison, this monster's golden appearance may be based of the character "Chromium Gold Borg" from the TV show Beetleborg Metalix whom is also based off of a Kabuto Beetle.
This monster is similar to Kamen Rider Kabuto; they're both dubbed the strongest of their groups, and they have a similar theme.
This card's second effect is similar to "Scrap Dragon", except that the cards must be face-up and they are sent to the Graveyard without being destroyed.
Like "Scrap Dragon", this card is meant to use members of its archetype as the fuel for its effect because several other helpful effects are triggered by sending the right card to the Graveyard (in this case equipped "Inzektors").
Ironically, despite of being a "boss card" of the "Inzektor" archetype, this card's own effect actually makes it weaker ATK-wise than the monster equipped to it, but ONLY if the monster equipped to "Exa-Beetle" has ATK higher than 2000. In that case, the ATK of "Exa-Beetle" itself can never be higher than the monster equipped to it, due to "Exa-Beetle" gaining only half the ATK of the monster equipped to it. For example, if a 3000 ATK monster is equipped to "Exa-Beetle", then the total ATK of "Exa-Beetle" would be only 2500, which is 1500 (half of that monster's ATK) + 1000 (the original ATK of "Exa-Beetle").
The only time "Exa-Beetle" can have higher ATK than the monster equipped to it is if that monster has less than 2000 ATK, and even then the ATK of "Exa-Beetle" will not exceed 2000 (which is often considered as quite weak for a "boss card"). An example is if a 1000 ATK monster is equipped to "Exa-Beetle", then the ATK of "Exa-Beetle" becomes 1500, which is 500 (half of that monster's ATK) + 1000 (the Original ATK of"Exa-Beetle"). If a monster with 2000 ATK is equipped, then the ATK of "Exa-Beetle" will becomes 2000 (1000 + 1000), which is the same amount of ATK (no decrease, but no increase either).
However, fitting the "Inzektor" pattern of equipping to other "Inzektor" monsters, it is possible that this card is meant to be equipped with another "Inzektor", specifically one of the three "Gigas", as those two boost "Exa-Beetle" to very high stats (3600 ATK minimum for "Giga-Mantis", 3000 ATK minimum and piercing for "Giga-Cricket", or 3900 DEF minimum for "Giga-Weevil"), fitting for the "boss" of the archetype.
The horn of "Inzektor Exa-Beetle" may indicate its own effect to equip itself with a monster when Xyz Summoned.
For some reason, the Spanish name for this card is the same as "Inzektor Exa-Stag"'s but in inverse order: Exa-Escarabajo Inzektor for "Exa-Beetle" and Inzektor Exa-Escarabajo for "Exa-Stag".