It isn't misunderstood, it is often not clearly defined. Nominally the guidance is that if you are concealing it, it has to be 100% concealed or it could be considered brandishing. If you are open carry then it has to be 100% open. In terms of cycling with a jersey on (assuming you are holstered on your person) it could be interpreted either way depending on how you are wearing it. There could be legal exceptions to the brandishing charge, if for example; you are concealed but you bend over and your suit jacket opens and reveals a shoulder holster that one wouldn't normally see. In cycling, however, the clothes are designed to be fitted so the outline of a pistol would be easily recognized by someone who is looking for it regardless of how well you conceal it. On that note, if you conceal it really well it defeats the purpose of having a pistol if it takes you a long time to get it out of it's holster. That discussion is best suited between the carrier and his/her attorney and or local law enforcement. Generally pistols suck as PDF (personal defense weapons) because they are relatively difficult to use well and
there is significant risk of having it taken from you and used against you - especially if your assailant has any kind of background in police, military, or Krav Maga. If you are really worried about it then I would go with a contact taser which can be easily concealed in your cycling jersey and is dead simple to use in anger.
I think you are talking to the wrong guy I'm not concealing on a bike. I have no questions or reservations about how I operate with my firearm.