Walking and running are not very efficient because a lot of the muscle “energy” is used for balance, support of body weight and there is inherently a bit of up and down motion of the body (which is wasted energy since the desired motion is sideways).
On a bicycle there is much less wasted energy on the balancing and weight support part and the rotation of the wheel is much more effective at imparting motion with less “up and down” wastage.
The bicycle thus maximizes the muscles total effort towards the desired motion while minimizing unwanted use of effort.
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