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@Oliver Schick
Westminster's announcement on Oxford Street:
https://www.standard.co.uk/news/london/revealed-alternative-plans-for-oxford-street-after-pedestrianisation-rejected-a3965036.html
No drawings but from the description it doesn't look too good. I still don't believe that it would be a good idea to reduce buses that much. Removing bus laybys would certainly make it harder to ride along there, unless there was carriageway widening to 9m to make the street more flexible (which won't happen).
It'll be interesting how they expect to get the changes to bus routes agreed with TfL. Despite being the local highway authority, they have very little power over them.
Anyway, too early to tell, what to think of this with such limited information.