Nah, he's saying that trips are usually made in the company of one or more persons, and that those persons are on foot. Thus the total trip time is composed of unlocking, travelling at a walking pace, then re-locking. This is true, in my experience, but isn't a very good argument against making bicycles available to everyone for free.
(alternatively, if you're rolling in dough, try something like the Xtracycle which can carry passengers and cargo)
