I can’t really see the problem myself – as geoffj says you pay around a net 60% of sticker price over a year, then £70 to cyclescheme and 3 years later you own the bike, effectively saving a couple of hundred quid on a £1k bike.
For me, I’ve used my current commuter in various guises for about the last 7 years, so keeping the next one for 4 isn’t a problem. I can only assume that most of the whiners on here are those who have (ab)used the scheme in the past to get a new bike every year, and thus those people are now losing out.