That is not at all what happens.
Bikes with hard panniers don't play well with bollards. When Cochet's luggage box hits the squat steel post, both Cochet and the bike take a spectacular ride over the edge of the quai. We're told that, thankfully, Cochet wasn't hurt beyond a few bruises and a sprained finger. The bike... not so much. Prepare to wince at the video below.