To be fair, I had heard about graphere a while back, but I was waiting to see it in the news before I read up on it. Thanks to some of the useful links in this thread, I now know a little more.
Graphene can make carbon-fiber bicycle frames even lighter, while making them stronger at the same time. Carbon-fiber frames are a mix of cloth (made from carbon fibers, of course) and epoxy, which is usually applied into a mold and vacuum-cured to draw out any air bubbles that were created in the epoxy mixing process. The result is a frame that is very stiff and light.
However, if a CF frame is ever banged hard enough to make a crack, it is done...no way to properly repair it. Graphene has been tried as a filler in the epoxy, which makes the epoxy lighter, and also makes the epoxy much stronger, and more able to survive hard hits without cracking. Carbon fiber frames have remained fairly expensive, mostly because we are told it requires time-consuming hand application by skilled personnel, along with a very expensive mould.
I believe some of that is true, however...I also believe that there is a vested interest in keeping CF frames expensive, as a niche product. And to be fair, aluminum frames are light enough for the mass of bicycle customers, and aluminum is much more robust than CF for the common street commuter since it can take more abuse.
I don't expect the low end mass-produced big-box store bicycles to ever be a CF/Graphene mix, but...I suppose there will be a few years where CF/Graphene frames will be an upscale item for the top end customer (lighter and stronger than CF), so they will charge more than CF for it, simply due to demand. At some point, perhaps China will use its cheap labor to produce some "mid range" CF/Graphene frames in the sub-$1000 price bracket.
There is another thread discussing graphene for batteries, found here: https://endless-sphere.com/forums/viewtopic.php?f=1&t=58684