I think Toronto's cycling modal share is a couple years away from a bump. As better infrastructure is put in and awareness increases, cycling will begin to takeoff.
When I have conversations about bikeshare, I tell people I pay about $100 (corporate). They assume per month. I tell them it's per year and there eyes come out of their heads. People don't know.
As more people bike, their friends will bike and it'll keep going. After the Bloor, University, Richmond/Adelaide lane upgrades are done (this year?) we may have the basis to grow to the inflection point