In my experience (as a parent of an 8 and 10 year old in a rural city), kids all seem to ride bikes still, just much less. As in they can ride them, they just don't as much.

The helicopter parenting impulse is real, and as someone with an overactive imagination, something I struggle to avoid. I keep reminding myself that if they get injured, well, that's part of growing up and learning. Especially when they were younger I'd try to avoid situations that could result in serious injury though. Stranger danger is still a real concern, but then it kind of feels like society has adapted for that. I just don't seem to see that many situations where it's a big concern, as long as kids have been educated. I dunno, that might be wishful thinking.