This doesn't take into account newer materials that can become rigid when struck.
These are often demonstrated by protecting a hand from a hammer blow, and I know from experience they are very adequate for protecting knees and elbows from trees, hard ground, and moderately pointy rocks. However, it's unclear if the shear-thickening is significant enough to protect against an actual sword strike or knife stab, and very unlikely that they could withstand a modern projectile weapon.
The idea is proven, but would need some further materials breakthrough to approach the level of sci-fi armor.