I wouldn't call WD-40 a "degreaser". It is a lubricant with 25% of the liquid involved being oil. The term "degreaser" is kind of a misnomer. It should probably be called a "deoiler" because that is what is being removed but that is never going to catch on. The point of a solvent is to remove the old oil and the grit it carries efficiently. The old oil isn't the problem , however. The grit is.
I didn't call it a degreaser. I stated, "
WD-40 actually is a pretty good degreaser for "grease". Which is true. It is not a degreaser but acts as one very effectively in many applications. About the only time I do use it is on my salt water fishing rods and reels to "disperse" the salt water and then follow-up with a water bath, thorough drying and re-lubrication.
In my own casual research I have found that even a little bit of residual WD-40 in the nooks and crannies of a newly re-greased bearing will begin to "dissolve" and flush-out the new grease. It's sometimes a real PITA to get all of the WD-40 off of a part, which is why I seldom use it.
Don't get me wrong, WD-40 is great stuff for getting rid of water where water shouldn't be. It just isn't very effective as a lubricant.
As the OP wanted to clean the bike, my thoughts on that are it's not a good idea to "clean" it with WD-40 as it may cause more problems than it solves.