I think Bay Wheels is quite a bit more than that if you want e-bikes. [1]
Looks like its $159 per year, so $13.25 per month. Then, your rides are $0.20 per minute for the first 45 minutes, $0.40 per minute thereafter, and an additional $2.00 fee for not parking at a station - stations which aren't always conveniently located.
I own an e-bike now that I ride longer distances - that a Bay Wheels bike won't make anyways but I don't consider that a fair comparison. Based on my old commute from the Mission to downtown 5x weekly:
- 1.5mi/12 minutes each way. $0 base + $2.40 assuming optimality.
- Hub on one side, no hub on the other, average $2.00 extra there, $0 extra back.
- Monthly fee assuming 40 rides per month is $0.33.
So for this commute alone we're talking $7.46 per day, $149 per month or $1788 per year. Add on a few grocery runs, grabbing drinks with friends, lunch runs, not wanting to park at a hub when you're in a rush, and we're probably in the low-to-mid $2000 per year price range if you really buy into it.
A VanMoof X3 is $2448 (or $88 per month) [2] It would pay itself off in like 14 months, or you can save 37% on the monthly payment vs Bay Wheels. Now you have something with almost a 100 mile range, a much better ride, that you can park anywhere. If it gets stolen, they'll also send out a team to pick it up via its onboard GPS, and fix it up for you.
My point isn't that you should or shouldn't get a VanMoof X3, it's just that the pricing isn't exactly a slam dunk in favor of Bay Wheels.
[1] https://www.lyft.com/bikes/bay-wheels/pricing
[2] https://www.vanmoof.com/en-US/x3?color=dark