I was inclined to give only 2 stars but I love the idea behind it so much, I couldn't bring myself to do that.
First of i must say I'm an avid cyclist. I love everything from mountain biking to getting around town on a raggedy old-school bicycle I have at home. That's why I was very happy to adopt the Valenbisi as the primary mode of transport during my week long stay in Valencia. We have a similar system in Ljubljana so i had an idea what to expect.
The bikes were even better than I anticipated! The ones we have in Ljubljana don't have gears so that was a welcome surprise. Sure, they are heavy and a bit hard on your body, but that's the price to pay for their ruggedness. Most of them were in a good enough shape and we generally didn't have any problems with the bikes themselves.
The stations are numerous and close enough.
Sadly, that's where the positives end. The first problem is the price - over 13€ for a single week of use?! That could be acceptable if they didn't charge 1 extra € the minute you pass the 30 minute mark. After an hour it's 3€. That's a complete ripoff! For a city as big as Valencia and bikes as slow as Valenbisi is impossible to get anywhere and find the nearest station in 30 minutes. Again, the bikes themselves are not the problem, it's the ridiculous time limit. You need at least an hour to get across the city and not pedal like you're competing in la Vuelta, especially if you take into account the time spent looking for a station.
The second big problem are the stations themselves. Sure, there's plenty of them, but too many times they are either completely empty (when you need to rent a bike) or completely full (when you need to return a bike). In Ljubljana we have employees that transport the bikes between stations and the price for the service (Bicikelj) is 3 € for the whole year!
Knowing what I know and having a previous experience with a similar service, I have to say it doesn't feel right. That being said, I'll still be using the Valenbisi the next time I'm in the beautiful Valencia.
And one more thing: it wouldn't hurt to put some stations in the park itself to avoid climbing up and back down just to check the bikes in and out... or just simply make the bikes free for the whole hour!