I think cycling is more of a strengthC sport than running and it provides more leg strength than aerobic capacity. I have a much harder time reaching higher heart rates on the bike because my legs fail first. A stronger cyclist may be more limited by aerobic capacity instead of leg strength.
Cycling
Lance Armstrong's VO2 max is 85 milliliters of oxygen per kilogram of body
weight per minute. An average untrained person has a VO2 max of 45 and with training can get it to 60."
Source:
Super, Sure, but Not More Than Human
Lance Armstrong was a definitely exception the the rule. However, the fact that an average person can increase their VO2 max to 60 by cycling demonstrates that cycling can and does increase one's aerobic capacity.
I have a much harder time reaching higher heart rates on the bike because my legs fail first.
Biking and Heart Rate
It is easier to increase your heart rate running or on a elliptical because you body weight increases the work load on the heart. An Elliptical is basically a "Stand Up Bike" that you are pedaling.
Riding a bike decrease the weight load, which decreases the load on your hears.
With that said, you can achieve essentially he same elevated hear rate cycling as you can with running, if you push your cycling intensity high enough. I been able to do it with the individuals that I work with.
This is especially true with all out bike sprints.
Sprint Cycling Example
One individual that I worked with believe the same as you.
I put them on an Upright Bike and had them preform Dr Jamie Timmons' Sprint Protocol. SMIT (Superamaximal (High) Intensity Training.
1) 20 Second All Out Sprint.
2) 2 minute Recovery (slow pedaling on the bike.
Repeat the above sequence tow more time.
Age of the Individual 62.
Estimated Heart Rate Max: 158 (20 - 62)
Heart Rate After Third Sprint: 153; 98% of heart rate max.
Wait For The Bounce
After a sprint, wait about 30 seconds or longer to check you're/there heart. Their/you will dramatically bounce up.
A stronger cyclist may be more limited by aerobic capacity instead of leg strength.
Aerobic Capacity
This is where offwidth needs to chime, this is more of his area. I just start it off.
VO2 Max plays role in you aerobic capacity.
Just as important, if more so, it Lactate Threshold. Your body's ability to process and eliminate lactate is a major factor in your aerobic and anaerobic capacity.
Cycling improves my turnover rate due to the higher cadences I can obtain similar to running on a decline.
Cycling Turn Over
I'm not sure where you are going with this.
However, it does bring up another issue...
Eccentric Impact Force
To reiterate, running produces an enormous amount of muscle damage due to the Eccentric Impact Force.
Running down hill or on a Declined Treadmill magnifies the Eccentric Impart Force.
"The poison is in the dose."
Eccentric Impact Force from walking and running increase bone density.
However, too much running decreases low back bone density.
https://www.webmd.com/osteoporosis/news/20030127/long-distance-runners-risk-bone-loss
"The women who ran the most had the lowest bone density. Each extra 10 km run per week was linked to 1% to 2% lower bone density."
Summary
1) Cycling can and will elevate your heart rate, when preformed correctly.
2) Cycling doesn't build bone density.
3) Running produces a lot of Eccentric Impart Force; running downhill/decline treadmill magnifies it even more.
4) Running increases bone density when the right "Dosage is used"; it decreases body density when the wrong dosage is used.
5) Running and Biking have a benefit. This brings up to "Use the right tool for the right job."
Kenny Croxdale