Seattle to install on-street bicycle parking lots in neighborhoods

Why should automobile owners be exclusively privileged with parking access on the public space of the city's streets?

From the blog entry "Capitol Hill getting first bicycle parking" from the Capitol Hill Blog, Seattle:

Taking the place of one to two motor vehicle parking spaces, on-street bike parking will be filled with bicycle racks and surrounded by a raised curb. Bicyclists can enter the parking area from the sidewalk and each car-sized space will accommodate up to eight bikes.

They will be testing this in 3 locations.