But the important difference is they are not physically segregated.Ahem down here in London we have some excellent cycle lanes that speed up journey times and are safer than mixing it with cars and lorries.
They happen to be called bus lanes because buses are also allowed to share them. They are extremely popular with every sort of cyclist and seem to escape the downsides you fear. They are wide enough, enforced and maintained to the same standard as the rest of the road. We could do with more in all our towns and cities. Without the taxis of course.
I'm all for more bus lanes