Pedestrians don't usually travel in the road though. Their interface with wheeled traffic is supposed to be occasional, and under certain pre determined and managed situations. A zebra crossing, or crossing the road using the Green Cross Code, that sort of thing.
They are not infallible by any means. However, doing away with them in favour of helmets will quicklyeaf to carnage. No need to take my word for it don a cycle helmet and randomly cross a busy road while not using a crossing, or without using the Green Cross Code, or even looking, and you will almost certainly get hurt. Repeat the exercise but this time exercise the conventions that society and law have created for foot traffic and you almost certainly will be fine.
Conversely, cyclists actually travel in the road with the motorised wheeled vehicles. They have few conventions to protect them as there are for pedestrians, and those that do exist are often lacking at best or dangerous at worse, such as ill conceived cycle lanes, etc.
Ask a person of reasonable intellect if a pedestrian should wear a helmet from the moment they leave their house and the answer will be 'no' for these reasons, and to suggest they should, even jokingly to try and illustrate a counter point, is to make a bit of an arse of oneself.