I've seen this model in Dallas, and even as a pro-Biker, it is a horrible model. Bikes just left everywhere. The sidewalks aren't just infinite bike parking. Tons of the bikes laying on their sides, etc. Looked terrible, and I am sure it is really annoying for business owners that end up with a stack of them in from of their doors. Shareable bikes should have docking stations.
There are now electric scooter companies doing the same thing. Just leave 100s of scooters all over the place and make them someone else's problem while you (attempt) to profit. Cities get caught with their pants down, because they had no idea they were coming.