I think Holland counts as one of the best places to live as a cyclist. The primary reason for this would be safety.
The infrastructure as a whole is very cyclist friendly, with dedicated cycling paths, and never having to share the road with cars that go over 50 km/h. Also, because cycling is such a common and big thing, drivers learn to take them into account. The many cycling roads are well-maintained, and if you want to go somewhere by bike, there are usually a LOT of options to get there using primarily dedicated cycling roads/lanes.
The bad thing I guess is that Holland is almost completely flat. There are few hills over here, and many cyclists (myself included) travel to neighboring countries for this kind of an experience (for me, the nearest capital of a neighboring country is only 90 km away, the border only 40).
The sights are less impressive than some countries I have been in, but overall, in my opinion, still pretty good. Cities are relatively small, so even if you live in them, it usually takes only 15 minutes or so to get out into a nicer cycling area.