FWIW, it was also extremely restricted when I used it in Toronto. Coverage only went as far as middle of Korean Town, meaning you couldn't use it to go to, say, High Park. For commuting it was an even sillier proposition, because the coverage overlapped with the densest subway/bus grid in the city, and it was not much cheaper per month than a subway pass, unless you got a groupon for it.
It would be nice if there was more coverage but they have been expanding in the Bay Area over the past year.
It is around $150 a year in the Bay Area right now which makes it very economical if you can take the bike instead of the subway or a bus (i.e. just replace six bus trips per month.)
That's intentional - http://www.sfexaminer.com/transportation-officials-halt-fund...