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It's a passive way of saying it's a bad idea to pass on the left
Exactly this. When I pass buses, I am always wary, because I know they pull out / pull in very often. I don't pass on the outside until I'm sure I'll be safe. I NEVER pass on the inside. I give buses right of way because they are usually carrying more people than me, people who might otherwise be in cars or taxis filling up the road. Sure, buses sometimes pull dangerous manouvers, but no more than any other vehicle.
In my experience, cyclists are much more unpredictable than buses. I dont, of course, assert that my personal experience proves any wider point, but it has definitely affected my attitude, and my behaviour. I'm doubtful that bus drivers behave differently because of a sticker. I'm hopeful that cyclists will.
How do you think having this sticker will effect a bus driver's likely behaviour when they choose to pull-over fast? Are indicators or a mirror-check more or less likely?
It's a passive aggressive way of saying it's a bad idea to filter on the left (which is sometimes perfectly safe) pass on the left, be overtaken by a bus, or be on the road when they want to pull-out.