I've seen these in use in Paris, mostly by the millions of scooter commuters. It actually makes a lot of sense if you commute daily in cold and wet weather, and are not concerned with how cool you look. They usually have hippo hands on as well. When they park the bike (which can be on any sidewalk) they just pull the cover up over the seat to keep it dry. If you think these guys are wimps, you should see em split lanes everywhere! The great thing is that all the 4 wheel drivers expect it, and actually try to leave space between lanes for the bikes and scooters to fit through.