I love the idea, but it's doomed to failure. I live in a city with a bike-sharing system. It's deeply unprofitable and exists only at the sufferance of the city government. There are a number of flaws. Number 1 is that people who ride bikes don't rent them, they own them. For $100 anyone can purchase a bicycle that will last indefinitely and be available 24/7/365. Number 2 is that people vandalize the shit out of bic…
I know of so many bike theft stories from my friends in SF, that this program is attractive because of those stories. It won't be your typical $100 bike-shaped-object and for $80/yr you can avoid all the bike theft, ownership and maintenance costs and stress.
So instead of a $100 headache, you now have a $1500 headache.
You do avoid maintenance costs, of course. Which are $0/year for many bicyclists.