Folding bikes have their place. I much prefer to use a normal full sized bike but if I needed to take a bike to work that would fit under my desk then all of a sudden you don’t have many options. When I was young I had a folding bike, other then the small wheels (smaller then the ones on the bike in the picture) it rode quite well and was neat to see it when it collapsed into such a small package. See the interesting video below that tells the story about how this interesting the Brompton folding bike company started.