Much as I wouldn't be seen dead with special pink stuff for girls, I'm loosely in favour of its existence because:
a) Some people actually *like* girly pink stuff. If that means they're more likely to cycle or own a set of screwdrivers or whatever, then that's a good thing.
b) People are much less inclined to 'borrow' (or as boab suggests, buy) it. This is especially useful in an environment like a theatre, where tools have a habit of wandering off.
The problem comes when things like clothing become only available in HUGE! or PINK!
As for the original article, it does at least recommend sensible bikes in amongst all the fashion guff. Nothing like an inappropriate bike for putting people off.