I don't see this bike solving any problems that a simple smartphone mount wouldn't. It seems short sighted to put all of the technology in something as expensive as the frame.
It's traditional "improve the bicycle" design fluff. Whenever you see integrated anything on a bike, you know the designer isn't thinking about service life or tweakability or any of the other things that makes bikes so cool.
I'd like to see haptic directions in Wear though - buzz once for left, twice for right.
You could buy two such full featured smart watches and it'd probably still be cheaper and less maintenance than building it into the bike. Actually, the dev kit for Glass could well be cheaper too.
As a bike rider, I'm not sure why these bike design things get so viral. Is it like food shows where people who don't cook watch people making impractically extravagant dishes?
I'd like to see haptic directions in Wear though - buzz once for left, twice for right.