It is legal in some places, illegal in as many others, and has caveats almost everywhere (children are almost always allowed, in other places it is based on speed, etc.).
Realistically though I think it leads to the same state of play as everywhere else where pedestrians don't much fancy being hit by a faster moving and taller (if not larger) object so dodge out of the way even if they aren't necessarily obligated to.
On the one hand, not everyone wants to be required to have their 4yo ride on the road with no bike lane, but on the other hand, I hate having preteens on extra.heavy looking bikes below out of the way at me why they drive at nearly car speeds on the sidewalk.
Of course we wouldn't really have to ban bikes on sidewalks to deal with those preteens as preteens aren't allowed on electric bikes or electric scooters anyway in this state. And electric scooters aren't allowed on the sidewalk or road here.