I hope they actually separate the cycle path from the road with a physical barrier and not just a yellow line like the photo in the article.
Most people seem fine with this arrangement, we're pretty used to tight spaces, for people, cars, motorcycles and bicycles. Maybe this lane is only fine because we don't have as much bicycle traffic as Amsterdam or Copenhagen, but seems to work well right now.
I think that's pretty reasonable. Most lanes in the UK are just the paint, without the plastic armadillos, and usually without the extra 30cm width.