Somewhat... Ikea trying something sounds like the right kind of idea. However, at a reported $499 and very basic capability, it's not really a viable price for an economic need, as opposed to a desire.

And then there's what actually killed it, which was doing something quirky. Belt drives are not of course unknown, and seem viable in concept and other's execution, but whatever they went with broke too many times and lead to a recalling all the bikes and abandoning the idea.

One of the lessons there is probably "be boringly ordinary" - any contemplated "innovation" needs to have a fallback alternative of long proven, widely understood technology. Also, pilot before going large. And then beware of component substitutions, since part of going large is finding the cheapest suitable volume source for each part, rather than the off-the-shelf ones likely used in a pilot.

(Ikea also tends to locate their huge stores in areas that are very time consuming to get to without a car...)