I don't think you failed. And I'm not an expert, but here's my opinion. I don't mind the background, it is busy, but I like busy things, and as you said, it is interesting anyway. I will have to say that in this particular instance I don't particularly like your break of the 1/3rds rule though. Since its centered, you're sort of saying that you want the primary focus of the picture to be the bicycle, your eyes are drawn to it very strongly, but in my opinion, the more interesting thing is the background, so if the bicycle is off to the side, it is only one interesting piece of the whole, not the focal point.