Good luck falling from 100 m or so while deploying your chute. That's the problem zone, high enough and a chute would work, closer to the ground and there just isn't time enough for the chute to slow you down. Even a crash into water from that altitude and you'd likely be dead.

Weight and altitude are the problem with the chute. This thing would result in a fatal accident at low altitude with power loss (total, they say it can operate with some systems lost) that are too low for a chute to deploy before you hit the ground. A similar problem exists with many ejection systems for military aircraft (pilot will escape the aircraft if it's on the ground, but not reach sufficient altitude for the chute to help when they return to the ground). Helicopters can auto-rotate, allowing for degraded performance during the descent but still controllable and survivable.