A place I worked at used it as part of an interview question (it wasn't some pass/fail thing to get it 100% correct, and was partly a jumping off point to a different question). This was in a city where nearly everyone uses bicycles as everyday transportation. It was surprising how many supposedly mechanical-focused people who rode a bike everyday, even rode a bike to the interview, would draw a bike that would not work.
This is why at my company in interviews we ask people to draw a CPU diagram. You'd be surprised how many supposedly-senior computer programmers would draw a processor that would not work.
I wish I had interviewed there. When I first read that people have a hard time with this I immediately sat down without looking at a reference and drew a bicycle. I could ace your interview.