If it’s a safety measure, I’m afraid it’s a dismally ill-conceived one. The trouble is the awkwardness of using the thing – you can get a hint of this near the end of the video Bill has linked to (admittedly the guy is giving it a bit of a hammering). Not obvious is that if the handle goes past the 12 o-clock position away from you it will still tend to drop and close the jaws, whilst also swinging out of reach.
Another thing which makes it awkward to use is the that the moving jaw is to the left of the device, so your left hand holding the material sheet is on the other side from the jaw – this, I suppose might make it slightly less likely to catch a finger in it, but it also makes it unexpectedly difficult to guide the material accurately.
The gear sector driven by the handle can also very easily run out of mesh if you’re not very careful to limit the arc you move the handle through.

In contrast this throatless shear, though greatly inferior in build quality, is far easier to use. The handle moves in the expected direction, and when parked past the 12 o-clock position stays there. The moving blade is to the right of the cutting line so you can easily and accurately manoeuvre the material. To me this ease of use makes it far safer than the Hilshear, which I must admit, I find rather frightening to use.

It’s a shame, because it actually cuts well – it’s also very compact, and I wonder if that’s behind the slightly strange design choices made by Mr. Hill.