It makes sense. I don't like it, but it makes sense. Pedestrians wander. Two of them can manage to block a 20' wide path, they walk backwards (so help me, they do!) without looking where they are going, and tend to be comatose to the point of being oblivious to the air horn on a diesel locomotive. Okay, I hate pedestrians with a passion uncontested, but given their behavior, 20mph is just too fast, especially when you have a few cyclists with attitudes.
Hey, how 'bout a pedestrian lane that they can't stray out of without accepting full liability? I know, in my dreams.
__________________
Some people are like a Slinky ... not really good for anything, but you still can't help but smile when you shove them down the stairs.