The York Festival of Cycling is in main parks rather than the city centre so while it attracts some passing trade it probably doesn't as wide an audience as it would get in town.
It has lots of bikes - including unusual bikes - for people to try. However there were no organised rides associated with the day - probably because as far as I can tell the two local cycling clubs - CTC and Clifton - are not involved in the planning of the day. Also no jazz band or people to help with repairs.
Frankly it feels like a slightly worthy event, whereas your's looks fun. Arch however knows much more about it than me so may have a completely different view.
You mean the Rowntree Park festival, rather than the CTC Rally, I think?
I was involved at Rowntree Park one year, but missed it last time. I seem to remember the year I was involved there were some guided rides, and I'm sure there was a Doctor Bike, because I was drafted in to be Mrs Doctor Bike and give advice on maintenance to ladies.... (Ironic, since my bikes only get maintained these days when NT gets a close look at the state of the chain...)
The CTC Rally is a different sort of event, and one that doesn't quite seem to know what it wants to be at the moment. There are organised rides of various distances, and the grand parade from the Minster to the show site on the racecourse on Sunday morning used to be fun, although now they don't marshall cyclists straight through junctions (can't afford the police), it's just turned into a cyclist traffic jam, and I haven't bothered for a couple of years. (Well, last year NT was in plaster, so we didn't go to the show at all). We'll be there this year, hopefully, mostly as a social thing since so many people we know from York and further afield will be there at some stage.