Is $2000 really "cheap" though? I personally would need to use a cycle to work scheme, and I consider myself pretty well off. I know people on lower incomes who would find that very off-putting as a barrier to entry. I think you'd need to go to the $150 or less range to be appealing to people in that situation.

$2000 is not bad looking at what it costs to play hockey. A lot of sports are less expensive though.

Otoh, around me, $100 gets you a circa 1980 road bike off craigslist. That'll do fine. I'm seeing a much more recent road bike for $500, if you don't like old stuff because it's old. Plenty of more expensive stuff too. I like the early 1980s bikes because road bikes were in fashion and there were a lot of makes competing and quality (of surviving bikes) is pretty good. Later, mountain bikes started trending, there was consolidation and I don't feel that those bikes are as good on the road as a general rule.

In my team there is an ex professional cyclist from 80s. Sometimes he come in the Sunday group rides with one of his 80s bikes and he is able to overpass everybody.

At the other side, I tried climbing the same hill at same power with my 2017 bike and with my 2023 bike. There was a 4% of difference in the time, probably because better wheels and improved position.