Cycling uses about a third of the energy of walking, nobody would have seen the point of bikes in the first place if they used more energy than walking.
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(Ref: ACSM Compendium of Physical Activity)
People get off and walk because they can't balance the bike a slow enough pace, not because it's less efficient (and because there's no point in providing a gear low enough for a speed you can't balance at). The reason cycling is more efficient than walking is that when you walk, you're lifting your entire bodyweight slightly with every step.
So that graph is showing that a walking pace of 3 to 4 miles an hour which is a fairly decent pace is harder than riding 22 plus miles an hour on a bike. 🤣🤣🤣🤣