When I want to ride a century on a nicely paved surface, of course I reach for the Cf frame.
If I'm just heading up to the store, my $100 pawn shop bike (which funnily enough was likely stolen since just the frame sells for 100+ on eBay) will do just fine.
For even sketchier times, like riding my bike to the local bar where they have no good place to lock up or I just don't feel like carrying a heavy duty lock, my Chinese made schwinn hybrid works nicely, handles variable road conditions perfectly, and I wouldn't shed a tear if someone stole it.
Usually if you are really into bikes you have at least 3, a "nice" expensive cf bike, a fixed gear you bought a steel frame on Craigslist and turned into a fixie, and a multi speed road bike that is for shorter rides or medium commutes but will be left in a shady area for a prolonged amount of time. you could either add or replace one of the former with a mountain bike. And that's just pretty much standard, not even getting into when people start collecting biked just because they like to have them around.
Also if you are like me or any of my cyclist friends, part of your living space looks like the back of a bike shop.
Cycling is an extremely satisfying hobby, and can be very cheap if you read up on what you should buy and spend a couple weeks with a discerning eye looking through local deals.
Also getting to know your local bike shop owner will do you more good than anything else. The guy down the street from me just opened his shop with himself and his wife. And they just do it for the love. He has never ever charged me for minor tuneups or servicing, even though his time is worth at least $50/hr and I would gladly pay.
He even traded a bike of similar value for free just because it fit me better than the one I had.
But because of his generosity I have directed multiple people to buy from him instead of a big box bike store.
These people are slowly getting driven out of business due to the internet, but they offer services that the internet simply can't (yet, I am sure there is some mobile bike mechanic app in SF but I live in a different metro.)
Especially for those starting out, some advice from a skilled mechanic will go a long way and save you a lot of money and pain in the long run setting you up with the bike you need (rather than upselling something you dont,) and more importantly, saving you pain in the long wrong setting you up with a bike that fits your body.
If anyone would like advice how to get into the hobby or as to which kind of bike to buy, feel free to ask me and I would be glad to point you in the right direction.