The price argument often makes me laugh (hello, by the way). £500 is a lot of money for most people in the UK. It certainly is for me.
The bit that gets me though is that these big, springy, more often than not yellow and blue, machines cost from £100-£200. I have a very old simple single speed raleigh that cost £60. It's been going for 30 years, and it will another 30 with minimal care. I wave these people goodbye on the road while they seem to be putting more effort into travelling vertically than horizontally.