As much as I want ebikes, I think the money is better spent on infrastructure like bike lanes. People can't do anything on infrastructure, only government can. This also works for normal bikes too.
Ebikes also really save people money over a car, so I don't think it's something we need to finance. There can be the first initial purchase hurdle for some, but let's find something different than subsidizing everyone like low/no interest loans for low income.