It should be a great alternative for recreational use, and some professions where bike riding is part of the job description, but it isn't really an option for sports racing, where time is more important than comfort. Some bike racers would prefer to have a groin injury, than lose a second. Another remedy suggested by Dr Barnes, apart from seat adjustment, is a good quality chamois in the shorts. - However you may want to be careful not to use it to dry the car.
Another thing. Police may know how to ride a bike, but what fraction have ever adjusted the seat?

How does that joke go about the nuns on bicycles..now sisters behave or we'll have to put the seats back on the bicycles.don' t know why this made me think of that one.

There aren't that many good jokes, but the clip has something funny about it, - apart from from bike riding it's self. I bet they would have had much more trouble with a penny farthing.
I suppose the need for it could depend on why someone was riding the bike, or how much of a hurry they were..