Oh, Adelaide Street is nothing like that:

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It’s a single lane in each direction, with that lane being wide enough that when buses are pulled over for passengers, another vehicle behind them usually has room to overtake. Or, a cyclist riding near the left kerb can very easily be overtaken with enough room. What doesn’t work, here or anywhere else, is buses starting to overtake cyclists, getting halfway past them, and then pulling in to a stop to drop off passengers.