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True, I guess the difference is that Rapha sells a unique product (even if you can buy it all over London) where as, like Howard pointed out, presumably this place will just be selling the same high-end bikes that you can buy at a number of other stores already. Also the market for high-end bikes may already be saturated where as Rapha was able to find an under-served niche
but yeah who knows, could take off and make £££
I can't really see a high-end brick and mortar bike shop being economically viable. Even in the moneyed west end, how many people are really going to be interested in purchasing a £5-10k road bike? It certainly doesn't have the same cachet that an expensive suit/handbag or similarly extravagant car does.