The thing is, helmets used to have a hard shell. The ancient Bell Biker and MSR both had a shell made from Lexan polycarbonate, the same thing bullet-proof vests and screens are made from. When my MSR had passed it's use-by and had been replaced, I attempted to destroy the shell with a hard attack with a ball-peen hammer. The hammer head simply bounced off at great velocity - gave me a great shock.
The hard shell was dropped from bike helmets because to put it simply, penetration is not the sort of thing which causes severe head injury. A hard shell is very much overkill.