And, you can get the same cardio per unit of time (if you want) on an ebike as a regular bike. You just go faster, therefore further. And since you have a bit more speed, and you aren't required to do a major workout on every trip (so you don't have to change into cycling clothes), you end up using the ebike for a lot more trips -- therefore getting more exercise overall.
In my case, I have a 25 mile commute -- no way to make it in time on a regular bike. But an ebike makes it no problem. And I still get a decent amount of exercise (basically the difference between going for a very long walk vs running a sprint, so a different type of exercise), and on the weekends I give it my all (and just rack up more miles).
But my biased opinion is buy a recumbent! Fewer back, neck, and nether region issues, plus, they have comfy seats! http://www.bacchettabikes.com/recumbent-bikes/
VERY comfy seats! http://www.hpvelotechnik.com/produkte/scorpion_plus20/index_...
A long wheelbase (crank behind the front wheel) and a more upright riding position is perfect in city traffic. On my commuter, my eye level is about even with drivers in crossover vehicles.
These ebikes are a clever hack. In China they skirt motorcycle laws. In the US they can make use of bike paths. You can make good time and your commute is generally the same duration regardless of traffic. At least, that's true in Silicon Valley.
Last I checked (a few years ago) pedaling the ebikes is like pedaling a tank. Batteries and motors a heavy bike make. So you're using the motor and there's not a lot of cardio happening.
I ride my bike because I want to live longer/better. I don't think you get that with these, but there's definitely a niche for them.