TXDOT had nothing to do with this. These are simply replacement signs for old ones that gradually disappeared, and only apply to the controlled-access part of Memorial Drive, which is like a freeway, with a minimum speed limit of 40 MPH and maximum of 50 MPH. Can you go 40 MPH on your bike, anyway?
After the old signs had disappeared, some riders and even joggers were starting to use the main lanes of the controlled-access part of Memorial, which with its high speeds, curves, and hills, was like riding or jogging on a freeway, but complicated by the lack of shoulders or emergency lanes.