From a safety standpoint -
1. The child is at the front of the bicycle, and high above the center of gravity. Should a sudden stop occur, the mass of the child will cause the bike to tip forward over the front axle. Not only will the child be the first absorber of all impact, but the mass of the rider will then crush the child against any obstacle in the way. This isn't rocket science - just basic physics.
2. The mass of the child on the handlebars will cause "heavy" steering. Once the handlebars are turned in one direction and the gyroscopic stability of the front wheel is beyond the tipping point, the bike will want to continue turning in the direction that it is going. VERY strong muscles may be required to straighten out the bike before it falls. Again, this is just basic physics.
3. The safest location for a child is in a stable trailer behind the bike that will remain upright even if the bike is laid down.
I wouldn't put my child in a contraption like the one shown.
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Nishiki road bike, Raleigh road bike, Electra Cruiser Lux 7d, Electra Townie 3i, Electra Townie 1, Whatever I find today!