Van Moof bikes are EVERYWHERE in Amsterdam. They obviously shouldn’t have taken so much investment. But if you can capture a latent market need like that, there probably is a lot of opportunity at scale, too.
I live in Groningen, a Dutch city that is even more suited for bikes, and I rarely spot any Van Moof here. There is a big amount of Swapfiets though, because there is a bigger demographic for a sturdy bike that costs 20 euro as month. You can have that bike in theory for 8 years and it still will not have the same cost as a Van Moof.