As always, traffic fatalities are an unfortunate part of living in a city with millions of people.
However, let's keep in mind that bicycle fatalities in all of NYC are actually quite low, and 1/4 of the national rate. Last year there were only 18 bicycle fatalities, the year before that there were 12. Given the number of cyclists and motorized vehicles, that's a remarkably low rate.
Mind you I don't think you should wrong-way cycle blind-folded donw 7th Avenue.
But I don't think we need to exhibit an excess of fear when cycling; just wear a helmet, remember cars aren't always expecting you, and use some common sense.