Who else would dress like this? Tweed jacket, albeit without leather elbow patches, and proper trousers with elastic things to keep his cuffs out of the chain. And proper leather shoes (brogues perhaps), rather than the "stupid" clicky-clacky things I wear. Not a square inch of lycra to be seen.
It gladdens the heart to see fellows like this making an appearance. It means cycling to work is getting all boring and mainstream. This bloke is lucky enough to live close enough to work that his daily journey is unlikely to leave him lathered in sweat. I will stick to the lycra, as I have 15km to ride each way (or 25km if I take the roundabout route) and that includes a few mean hills.
However, if you are just a stone's throw from where you want to end up, hopping on a bike can be better than walking - even if you are wearing a suit. It certainly beats looking for a parking spot in Sydney (and getting gouged for the privilege of parking). At this rate, we'll start to look like Copenhagen in about, oh, 300 years.