In most places a bicycle is given specific rights to use the road.
Generally such laws include things like:
1) May use the turn lanes when turning.
2) Must ride to a specific side of the road unless: You can keep with the speed of traffic, there is not enough safe distance for a car to pass you, or it is not safe to ride on the side of the road. (These rules are generally true of any vehicle that drives slower than general traffic.)
3) Protections to the bicyclist. Either in the form of "vulnerable traffic" laws, or specific bike protection laws.
4) There are even places with laws preventing bicyclists from using the sidewalk.
5) About the only place a bicyclist isn't allowed to ride is on high speed traffic areas like a freeway/highway/etc.
6) Protections for the bicyclist against negligent drivers such as mandating safe driving distances, when to pass, and protecting against specific activities that may endanger the bicyclist.
I do agree that a bike path is certainly much safer (and perhaps more scenic) for fitness, but many people are interested in traveling to a specific location. (Ex, the beach or a park. Riding along the coastline. Etc.)
The main problem with biking on the road isn't that you are doing something wrong... but that drivers do not respect you. Tailing too close, not giving you the right of way when you have it, etc.