Frankly, the article doesn’t make that case very well. €65 million on a population of about half a million is about €130 per head. Over a 5 year period, that is €26 per year. I wouldn’t call that massive.

https://fietsberaad.nl/Tour-de-Force-English/Home aims for “an increase of 20 percent in the amount of bicycle kilometres in 2027, compared to 2017”. They don’t mention costs, but I would think that’s quite a bit more expensive.