Personally, I agree with that if the road is wide enough. However, in rush hour traffic on my commute there are very few roads where bicycles can cohabitate with vehicles in a safe manner so a bicycle traveling at less than half the speed limit creates a problem with drivers trying to safely pass.
My personal gripe is that bicyclists know this is a problem and know that they have caused these back ups yet when the traffic light turns red they insist on cutting to the front of the line so all those cars have to pass them again. It is these a-holes that deserve any predicament they may have found themselves in.
Unfortunately, since I have seen maybe two bicyclist actually stop in line for a red light in over 26 years of driving, this would include virtually all spandex-clad road kill candidates.