This is beyond useless, and is very dangerous as your combining high speed vehicle travel with bikes and pedestrians. The typical response is to then convert the road to a street (e.g. lower the speed limit, reduce lanes, etc) instead of moving pedestrian traffic away from roads. The traffic is still there, because it's the only route, but now you've added the occasional brave and stupid bicyclist or pedestrian.

Beyond that, it's more inefficient for pedestrians, because road layouts tend to follow inefficient directions that add unnecessary travel time for pedestrians.