Misplaced Focus on Bike Helmets?

While they weren't all that common 20 or 20 years ago, today bicycle helmets are ubiquitous. That's in large part to how safety conscious - some might say risk averse - society has become.
Of course, stemming from that mindset are the laws which have made bike helmets mandatory for kids, as is the case here in Alberta, or laws that have made them mandatory for everyone, as is the case in BC and other jurisdictions.
A strong case can be made that we shouldn't need the state to protect us from ourselves, but in this case, are we even being "protected" at all by mandatory helmet laws?
For one thing, cycling does not appear to be an inherently dangerous activity. In fact, in Holland where a much larger percentage of the populations rides bikes, helmets are rare (less than one percent of Dutch cyclists wear one) and yet it remains one of the safest countries in the world for cyclists.
So why are we so obsessed with helmets?
A study released this week from researchers at the University of Calgary helps illustrate where we've missed the mark. As the release notes:

The study found that the greatest injuries were caused by cyclists crashing into vehicles; the faster the vehicle, the greater the injury. The study also found that the lack of helmet use while biking was not as great a risk factor as were collisions.
(...)
Williamson’s research is supported by a Transport Canada study which concluded that mass helmet use has not contributed to a reduction in cyclist fatalities in Canada, which remains at about 60 deaths a year.

Consider that in jurisdictions where not wearing a helmet is illegal, riding alongside traffic is considered normal. Whether creating separate bike lanes is the answer remains to be seen (more on that question here) , but we need to look at how to take the dangers out of cycling, rather than assuming that cycling itself is inherently dangerous.
It's also worth considering whether mandatory helmets discourage cycling, and from that then whether the lost health benefits from cycling outweigh the benefits of wearing a helmet. Helmet laws may also lead to more risk-taking and a false sense of security.
More here, here, and here.