Yes, would be ok with me, as long as it was marketed as an ornament or as a novelty object that is maybe good only for one cuppa.
Trouble here is that a cycling helmet is supposed to be safety equipment.
Of course we all know the limitations of a chocolate teapot, but imo the limitations of this paper helmet are not yet known.
When they will be known, will the limitations be in very, very small print on the inside?
You could not bank on the weather here: for a start it could be sunshine one minute, pouring rain the next.
I've seen a NextBike (our Boris bikes) in the park tonight. There's sheet ice about.
All kind of folks use the Next Bikes here, even regular cyclists with their own bike, when they don't want to lock it up in town for example.
Of course, they could provide their own helmets, so maybe they would not buy a paper one.
I get what you mean for single use, but one could hit their head pretty badly even on a 5 minute ride.
So, I could perhaps concede the title of "innovative design" to the object.
Innovative but single use only: just like a chocolate teapot then