I think if theres one thing thats missed in the debate about designers and bikes, its the fact that essentially the bike industry has is own quite specific aesthetic. I know when I started riding again a few years back everything I liked and wanted to own, I would definitely consider complete anti now - if you think about it, lots of the bright colours you see on shit like creates could be at home in other areas, but when you try and throw that kind of thing at a bike it simply doesn't work.
This is really evident when you then see well respected designers try there hand at designing a bike eg.
by Yves Behar
by Philippe Starck
Both well respected designers (admittedly Starck is a bit of an aestheticist, and I'm not really a fan, but he's definitely not a student playing around with ideas and trying to capture peoples attention) who have successfully designed and developed products for a range of different industries. It seems over the length of time one of these projects takes to put together, people can struggle to get a proper grasp for the aesthetic trends that the bike industry is driven by.
I'm a recent industrial design graduate myself, and I've always said that I'm staying the fuck away from designing bikes, unless I'm working directly for a bike company, simply because of all the shit that well respected designers keep turning out.