But again, the risk arising from the collision is much lower

You still haven't actually shown that, but lets assume its true, you still have solved no problem. The stats show the safest place for a cyclist is on the road with the direction of travel.

Putting them on a sidewalk with people raises the risk to the cyclist and raises to risk to pedestrians.

Putting them on their own sidewalk (bike path) also raises the risk to the cyclist whenever they have to meet a roadway. So, unless you can design some amazing network of bike only pathways with no connection or crossover with any roadway (so like bike overpasses or tunnels whenever they meet a road), you still end up making things less safe.

And that study is meaningless because nobody is suggesting cyclists use sidewalks with pedestrians. Also riding sidewalks and using motorvehicle roads arent the only two options.

So you are talking about seperate bike paths. If you actually read the study it counds those in the same basic category as sidewalks as far as risk to cyclists (higher risk when they intersect with a road vs a cyclist just using the road with the proper direction of traffic).