My point is that most bikesharing programs I've seen average in the $50-$75/year range (ViaCycle included), and an entry-level (as in 'this won't win you any races, but you can ride it to the store') bike costs $100.

The space point is apt, but I can't imagine that the space constraints for your own bike (any bike rack) is more specific than a viaCycle location.

The main selling point for bikesharing programs is that they deliver some form of ease-of-mind. The core benefit is, that you don't have to spend any thoughts on these bikes, they are just there - no maintenance, no charring-around, no winter-issues (depending on your region), no theft, etc. But then again I am an avid user of one of these services and might be a bit biased.

"The core benefit is, that you don't have to spend any thoughts on these bikes, they are just there - no maintenance, no charring-around, no winter-issues"

Exactly. Commonly known as a "turnkey" experience. Something to also keep in mind when developing products or services.

I had such a service business years ago. The main thing we did was offer something and not require any thinking on the part of the customer. We limited their choices, gave them advice, and made things very easy. They liked that. They had less to think about than with our competitors. (We were able to charge more and our quality wasn't really that good.) We saved them time and the stress of making decisions.