I'm imagining strapping 100kg+ of toolboxes to the front of my electric cargo bike. It theoretically is possible. But if someone walks out in front of that it's going to be ugly. The braking systems are nowhere near as good as a car's. If it rains it'll be miserable, I'd put up my rates significantly to compensate and a lot of people would rather just exit the market.
It feels like once you actually account for real things that need to happen like vans carting building materials, you're back where you started except that now everyone needs a license to do the same things they did before in their "personal" vehicles.
If you still have lorries and vans and buses then it feels like a lot of the safety and emission arguments fall apart really.