Manifesto Architecture designed the Bike Hanger. The rack has more in common with the zipper at your local carnival than the bike racks out in front of my local elementary school. When the person is ready to go it appears that someone would work the Hangar to bring their bike back down.
The designers don’t say if the retrieval of the bike would be automated or if the user would do it themselves.
It certainly makes good use of space, but it makes terrible use of time. Faced with a single open space at the top of the machine, most people would opt for a nearby street-sign instead.