Councils were given ring-fenced money for these bike schemes (which seem to annoy so many people) by the central government. The money could not be used for anything else.
So blame central government. It's one of the Green issues the Tories had in their manifesto for the last-but-one GE. But most people were so fixated by Brexit they didn't notice the other stuff. And about 1% of the population have even a vague idea of how local government funding works. (Clue - most of it does not come from your council tax, some services are mandatory, and some funding is ring-fenced and can only be spent on one thing. It's a bit like a benefactor giving you £500, but requiring you to spend it on decorating your back bedroom, even though your roof is leaking and you can't pay the gas bill.)