While that's a step in the right direction, I've biked in areas where this is the approach, and I'll say that if I weren't in a self-destructive phase of my life at that time, I probably wouldn't have risked my life like that.

Paint doesn't make people drive slower--it's at best encouragement, and a lot of people don't. And that's when the bike lane is even clear: often it just gets used as a temporary parking area for Ubers and delivery vehicles, making it fairly useless for bikes during busy times.