Bike helmets reduce the risk of injury in virtually all crashes that an improved helmet would reduce it. They simply don't reduce it as much as an improved helmet would. I don't stress too much about biking with a conventional helmet. Mine is a few years old and I'd like to replace it with a MIPS helmet when they are available, but as it is with a conventional bike helmet, my concerns with biking are:
1. Getting run over by a bus, in which case the helmet is quite moot.
2. Crashing and hurting myself, which with a helmet is unlikely to kill me, but may result in trying to stuff my bike in the back of my wife's car while dripping blood.
The Hovding is something I would never in a million years wear. I want protection from tree branches and similar, and I don't want to worry about throwing out a $300 single use item after a minor spill.