1. First of all, it is mandatory in my country.
2. Wether the accident is the biker's fault or the car driver's fault or anything else you are way better wearing a protective helmet if you fall off your bike. Head trauma is not something to be dismissed on the basis that wearing an helmet isn't mandatory or - gasp - fashionnable.
3. Regarding the yellow jacket: without it most bicylists are simply invisible in night traffic. In broad daylight there are easier to see and thus one can be more cautious around them. Remember that cyclists are "weak" road users.
4. > Why should a bicyclist be required to wear a yellow helmet & jacket to be called "good"? Certainly reasonable road conduct should be demanded from all road users, but first from automobile drivers, who cause the vast majority of injuries & deaths on the streets.
Wearing a helmet and yellow jacket are really good signs that the biker knows what he is doing. Especially in a country (mine) where it is mandatory. Especially in a country (mine) where car culture is overtly agressive towards cyclists.
There is absolutely no reason not to wear protective gear when riding a bike (especially in a city).
Even if there were no cars on the road.
edit: removed personnal rant