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Other boroughs have put them in, I think in some places they are well used. Where there is demand/desire to cycle but nowhere to keep a bike, they are a simple way to facilitate it. Also, as well as there often being a physical problem of not enough space inside a flat, or struggling with too many stairs, to many people you just don't keep a bike in your room. (Who are these people?!)
Not sure if the same in other 'boroughs' but in Stratford they've been placing all these god awful outside bike storage POS in the estates. I've been walking past 4 (on the same road 50m apart) and haven't seen one being used in 6 months. I wonder why?
Somebody at the council obviously had money to burn in their budget. It annoys me to the extent i'm considering a FOI to find out how much they cost - and where the money could have been much better spent improving the cycling infra.