Duh.
But there is almost certainly less risk of a collision although on a road with proper shoulders (wide) and low traffic I'd say that probability is probably orders of magnitude smaller. My point is that there is far less risk of a collision than on a sidewalk. Sidewalks are much narrower than bike paths or multi use paths and there is no expectation of a fast moving (12mph is really fast to a pedestrian) traffic on a sidewalk so no precautions are taken.
Finally, I'm not going to argue that which is almost always illegal in the first place. If your city allows fast moving cyclists on a sidewalk, go take your risks at collisions and make sure your insurance is paid up and you have good coverage. You get in a collision with a pedestrian especially on a sidewalk and I can't imagine you'd win that one even in a month of Sundays. And then let's hope you don't get hurt too.
J.