These[0] used to be rather common in the Netherlands And are actually pretty much fine on the wheel bending front
if there's enough bicycles parked. You'll just stick your bicycle at the end of a group of bicycles and it'll be prevented from falling over by its neighbors. Still sometimes seen in lowish traffic areas where theft is not very likely.
These days you'll more often see these[1] which are a bunch more dense because of the vertical staggering, and you'll note the convenient attachment point for a chain lock. Less ideal with respect to brake and shifter cables, but there's a reason the preferred style of city bike has no gears and a kick brake.
At big places you'll often see these[2] which are incredibly dense. Bicycles on the top rows can be accessed by sliding the rail out and tilting it down. No real provision for a chain lock, but if you're parking at a train station you're already not caring too much about theft. Never mind that there being so many bicycles means that having even a halfway decent lock means any would-be-thief is just going to pick from one of the thousands of other slightly less securely locked bicycles.
Hope that gives some insight on how it's done in the netherlands.
[0] https://www.fietsparkeren.net/wp-content/uploads/2016/10/wsm...
[1] https://www.velopa.nl/media/20001/velopa-fietsparkeren-fiets...
[2] https://www.velopa.nl/media/5008/nunspeet_station_10.png