Yes & no. They'll see someone on a bike and that'll automatic trigger their own personal memory of riding a bike (and most of these people haven't rode a bike since they were kids). So to them, they automatically categorize all bikes as toys (not only BMXs).

I forgot another "new" category. In the past few years, with the "green" movement in full swing, I think more & more people are beginning to realize that cycling is not only a form of sport, but also a part of commuting & helping the environment. Once more people become aware of this, we (as a group) will get more respect. With the higher price of gas, I'm beginning to see much much much more cyclists on the road.