It's cute, but it seems like a bit of a token effort, designed to be cute rather than useful.

I mean, to the left dominating the picture is a big four lane highway. On that, you could have the outer lane with a riased area shielding it as a cycle lane, then a light rail lane, leaving two lanes for cars and trucks. This would allow the carrying of several times as many people along the highway.

I think the freeway at that spot is about 7 lanes in each direction. However messing with the road system isn't with the realm of North Sydney Council's power (not that road anyway).

I still think it is useful - its not like the bridge cycle lane could take any more bike traffic than this new construction would funnel in anyway...

The cross-bridge rail lines have disappeared underground at this point.