Dead is dead. Unless road conditions are very extreme, providing no right side clearance or highway speeds, bikes belong where they have been for 100 years; on the road with cars. Hazards presented by pedestrians are far more numerous; unpredictability and dogs on leashes being just a few.
Even designated bike paths, on a nice summer day, are far more hazardous than the shoulder of the adjacent road. I'll take my chances with a driver that drives all the time any day, over some lard butt that just pulled his bike out of the garage for the first time all year.
Certainly dead is dead, but how many pedestrians are killed by cyclists compared to cyclists killed by motorists? A bike can stop faster than a car, can dodge (or walk their bikes around) animals and children better than a car can and is less likely to kill the weaker party in a collision.
Not a lot of cars on the road 100 years ago. Times change and so should motorized/non-motorized rules. BTW, I’m all for bike paths that aren’t part of the road.