I can't imagine trying to bail out if you got into trouble with the handlebars around your legs like that.
I really don't see how jumping off front of the bike is intuitive though. I mean, it's like trying to jump forward from the chair your sitting in. This in itself is an unnatural action, and to top it off the bike is gonna be moving forward when you jump forward off it. I foresee some severely bruised backsides.