From a pragmatic perspective, now is the time to buy annual membership: going going quick!
The fare increase is a shame: it was inevitably forthcoming but not to this extent. Let us not forget that the scheme is losing money: a fraction of the £50m from Barclays has been paid; expenses have overrun; and not enough people go over 30 minutes. From what I understand, the scheme is basically subsidised by those paying their taxes!
Fortunately for us, the Barclays scheme can still be a cost effective option: £2 a day works out cheaper than the other public transport options (so long as you keep each ride under 30 minutes.) So in some respects us Boris Bikers, and Barclays bank, are still winners
I guess the greater lesson one could take from this fortunately trivial disappointment would be to Think, Remember, then Vote