Pedal-assist electric rental bicycles are huge here in London.

It’s a relatively big city geographically, and it’s really nice to be able to do 5 - 10 miles in jeans and a long-sleeved shirt and not arrive at a social event in a sweat. The tube is really hot (high 30s!) in the summer and generally quite unpleasant (fleas in the upholstery!). So cruising around in the sun is a really big urban niche for rentals. Those that do lots of miles per day seem more likely to own e-bikes - delivery guys who probably average 50+ miles/day will absolutely feel the difference in their legs, and need to control their tiredness for their safety.

Are you elderly, differently able, live in extremely hilly or hot terrain, or only willing to bike if it’s half the current effort?

That plus “already has a bike” is a massive market.

When I read your comment before the article I thought it was some sort of complicated contraption in multiple parts. Instead it seems pretty compact and easy to disengage. I’m not sure what you’re missing in terms of a niche either. Anyone who just wants to ride with less effort but use their existing bike?

People who already invested in an expensive traditional bike and want to have the option to add electric support to make trips easier and faster without having to deal with selling their current bike and buying an even more expensive e-bike.

There’s also the fact that many people have bike racks that are fine for traditional bikes but not the additional requirements necessary for some (most?) e-bikes such as weight and strength.

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Just because it doesn’t work for you and your specific worldview doesn’t mean others wouldn’t see value in it.