I think we’re in agreement that the sign applies at the transition point between the shared use section and the pavement.

If you really want to push forward an interpretation of bicycle=dismount tagging that means the way it’s on is necessarily part of a cycle route, you’ll need to get consensus amongst the community to change these wiki pages:

 - https://wiki.openstreetmap.org/wiki/Road_signs_in_the_United_Kingdom#966
 - https://wiki.openstreetmap.org/wiki/Tag:bicycle%3Ddismount

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As a note, often putting words in CAPITALS when typing on the internet is interpreted as shouting, and shouting generally doesn’t help a discussion. A less shouty way of emphasising a word is to use *stars* or _underscores_ around it.