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Cycling is not just sports, it is also a common way of transportation
Cycling is a low impact activity, and is easier on your body.
Running requires very little or no equipment and therefore can be done more easily
It is easy to cause postural imbalance issues with cycling through constant bending of the torso and overdevelopment of the anterior chain. Running puts the body is a more natural and balanced posture, with more involvement of the posterior chain and a rigid torso being proper running form.
It is faster to recover from a cycling workout or perform when recuperating from another day, with less potential for acute injury, so it is a preferable conditioning exercise for endurance athletes.
An improper seat and poor posture while riding can cause potential damage to the perineum which could lead to erectile dysfunction.
Cycling lets you get somewhere faster with less effort but running is ideal for the most energy expended in the shortest amount of time (and also the least distance travelled.), more energy expended = faster muscle growth.
The fact that one may be better than the other is subjective.
In some parts of the world cyclists cause traffic problems. Running is a more considerate way to exercise.
Running is a more natural activity, whereas bicycling is artificial.
If you suddenly need to escape a situation very fast, the odds of having a bicycle at hand are low.
Cycling is a less tiring activity as opposed to running.
You burn more calories and move more muscles.