Just my two cents but I don't think he was killed by the bike owner/relative. Besides the fact it was left behind, the manner of death (stabbed in the abdomen, pants down around ankles) suggests a sexual motive. It kind of reminds me of Larry Eyler's murders.
Looking through NAMUS on this one, there's obviously not much and most of the missing can be ruled out pretty easily. The closest to a match is probably Thomas Meuse, but a few things go against it:
1. Isotope analysis apparently suggests John Doe grew up in Florida. Not sure if this is confirmed though?
2. Meuse would've already been 15 ½ by May '72, albeit age range(s) can be wrong and have already been wrong on this particular case. It would be interesting to know the confidence interval on 'age 11-14'.
3. Meuse had a notable eyebrow scar, but perhaps with decomposition it wouldn't be apparent.
4. Eye color isn't known for the John Doe, although one source suggests brown was most likely; Meuse had blue eyes.
Taken together, I tend to think it's not him. Plus I notice several years ago he was apparently submitted, though there's no follow-up on that.
I think John Doe stole the bicycle. It's too much of a coincidence for the bike to be stolen on May 3rd, then be found with him in this pretty random spot over 20 miles away, with John Doe likely dying that same day.
Since it looks like a road bike, I doubt he's made the trip to that particular part of Daytona Beach. Perhaps he went towards/into DB itself, but hitched a ride in a pickup or van at some point. I suppose the child prostitution angle could unfortunately be true given the shaving, but I also wonder if there was a more innocent explanation or if something like that could've happened in a detention facility/juvenile home etc. Prostitution would explain $6, but it's not a huge amount & maybe he just got it selling bikes or painting fences.
I really like the idea from madamx about the Florida Sheriff Boys Ranch though, I can imagine a kid being at a place like that and slipping through the cracks.