Yes, this is definitely a good point. There is an arms race like effect at work here, if you could de-escalate that lighter vehicles would be much better.
Count this as idle speculation rather then a serious proposal! Mind you, if a bike was equipped with such a system a 4WD owner would get a big surprise when they ran into a cyclist and got like-for-like.
Edit: I guess I'm really describing Reactive Armour for everyday vehicles.
I imagine physics would intrude at some point and make this a non-starter.
From a practical point of view ...
> Edit: I guess I'm really describing Reactive Armour for everyday vehicles.
Or basically an external airbag.