Risk is an aggregate of damage and likelihood. Pedestrians are moving much more erratic than cars. This makes them more dangerous, unless you live in a community so violent that drivers actively harass cyclists.

The risk may be higher but it's not insignificant. Here is an example from the UK:

"The number of pedestrians fatally or seriously injured in collisions with cyclists has doubled since 2006"

https://www.telegraph.co.uk/news/2017/10/07/number-pedestria...

If it was really significant you'd have quoted the number, not the headline:

In 2016 three pedestrians died in such incidents across Great Britain while a further 108 sustained serious injury.

But note, none of these deaths occurred on the pavement:

In 2016, 43 pedestrians died in collisions involving a vehicle on the footway or verge. None of them involved a cycle.

-- https://www.cyclinguk.org/campaigning/views-and-briefings/pe...