This is the part that UniChris , and the author of the article linked in the original post, have completely missed: getting low-income/low-wealth people on bikes could most effectively be accomplished with government intervention.

There is plenty of data on the question of "why people don't use bikes for transportation," and cost is not a top factor; more often, people cite safety and infrastructure concerns -- in other words, they don't feel safe while riding along the shoulders of busy streets. With good bike infrastructure (bike lanes, paths, safer intersections, bike racks, etc), we could overcome the biggest hurdle for many people. After that, if cost is a factor, it's easily solvable with means-tested subsidies (or tax breaks), incentives for employers to provide bike-friendly facilities (secure storage, showers, etc), even directly subsidized bikes. (Bike share or citi-bike programs are an example. There's no reason why low-income people couldn't be provided with free access.)

Simply wishing and hoping for bikes to cost less is not a solution.