The only thing I can think of is to force looking both ways before approaching the road crossing. This sort of slalom is common in the USA in advance of unprotected railroad crossings, although it's usually meant for pedestrians.
The painted lines suggest it's also meant for bicyclists, but then they didn't expect people would just go around? I'm not sure they fully penciled this one out.
I think the idea is to slow down the cyclists as they approach the intersection. But I bet cyclists going through it are too concerned about getting smoked in the kneecaps by that hard metal barrier if they don't go through the chicane exactly the right way to pay attention to what's coming at the intersection. Sounds like bad design. Good intentions don't necessarily mean good results.