I think it depends on whether or not your organization can get traction with the city/other groups as just a bike organization (in terms of whether or not this type of activity is "the role" of a CBS). In some communities where there is more hype/presence of biking as a day-to-day activity, I don't think you have to grind as hard as a shop to have your work seen as "legitimate". In Detroit at least, many organizations/folks introduced to BAB for the first time were like, "Oh, you do bikes? That's cute."-- on top of there being broader, unaddressed community needs-- so (at least when I was there) it would've really paid off to multitask if the organization was able (we really rarely were able).
I think whether it's an appropriate role for your organization would come down to two questions
1) is this a need in your community that another organization or network of organizations is unable to address without your support
2) does your organization have the resources to do that kind of work sustainably and practically?
The main thing that I think any community organization/non-profit can run into is the pressure to be everything the constituents or community wants/needs. It's better to focus on what your org has (and can get) the resources to do well, rather than trying to fill every niche/meet every need-- even when there's money on the table.