The bus has its place, when it's raining, if you have to carry a bunch of stuff and are not equipped by bike, when you're physically banged up, etc.

But a bike is nice if you have to travel at night when buses are less often, on holidays when buses sometimes don't run at all, and when you want to explore or make intermediate stops.

I can see the bus surviving the coming oil crash, but everyone able to should really try a bike!