I find it funny how over-American this is.

In the U.S. bicycles are basically tools for practising sports and, as such, should be expensive, ultra-efficient and loaded with high-tech.

In the rest of the world (from Amsterdam to Manila) bicycles are mostly for transportation and should be durable, reliable and not expensive at all. So far, I never saw an "omafiets" (a.k.a. "grandma bike") in the US. And sports should also be very cheap and shouldn't need expensive equipment, as in "real" football (aka: "soccer").

Edit: also, isn't bicycle navigation the kind of problem that Eric Migicowski tried to solve in Amsterdam with smartwatches (Pebble)?