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To be clear, I am still reducing my speed if I don't get positive confirmation that I've been noticed or if there's not enough time for a reaction to even happen.

My bell just gives me the significant improvement of possibly getting a reaction from the pedestrian long before I need to start braking.

However, not everybody does cycle like that. And while legally and ethically dubious, the bell still helps in that case as well.

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I don't know, the sentence doesn't sound ridiculous if you're cycliing at 18mph towards someone, without a front brake, and your precaution is "it's OK, I can guess which way they're going to go".
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The sentence was very harsh compared to lots of drivers who have killed people in far worse ways. I don't want to excuse him as he was also a complete arsehole on social media after the collision and his cycling was reckless. The lesson is that even if you think you have priority, you have to do all that you can to avoid hitting someone.
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Hm yeah, I don't know about drivers' sentences, true.
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