> I think the deepest explanation is in general economic and cultural factors.

I would say that this is very on point. Even during the renaissance "inventing" was a hobby for the aristocracy, as the author gets around with Giovanni Fontana. I'm not sure if a bicycle would've been a "cool" invention at the time. Because what would you do with it?

For the majority of people there was very little need for personal mobility in society. I know we have this nice fantasy idea of towns having taverns and getting visitors, but in reality, most towns didn't even get what we'd consider a modern pub until the industrial revolution. Sure there were ale houses, but an ale house wasn't a permanent establishment, it was simply whomever had most recentely brewed beer. You'd bring your own chair, and your own cup. So even if you had a bicycle you would frankly have nowhere to go.

>there was very little need for personal mobility in society

People regularly traveled to nearby market towns. There's still a strange omission: why didn't anybody in Europe invent the Chinese-style wheelbarrow, with the single central wheel? This seems to be the closest equivalent to a cargo bike that works well without modern materials. It's well suited to moving modest quantities of goods over poor roads, unlike the European wheelbarrow which is optimized for quick loading/unloading, and best suited to moving things short distances.