The first photograph shows how innocuous is the early part of the path from the north, while the second shows the start from the south. The part of the path that runs alongside the drainage channel is little more than 50cm wide, and if you go off the edge, you’re likely to hurt yourself.
However, there is only one real hazard: the point where the path crosses the drainage channel. This is the approach to that hazard from the south:
It isn’t obvious from the photograph how steep is the descent between the two bends, so the need to take this slowly may not be obvious either, but if your brakes aren’t in good order, you probably won’t make it around the second bend. And you probably won’t stay on your bike either.
Contrast this with the approach from the north:
Here, the thing to guard against is going too slowly rather than too fast, although if you haven’t selected a suitably low gear in advance, all that will happen is that you will stall and have to get off and push. You’re unlikely to fall off.
By now, you may be wondering why I bother with such trivialities. It’s not as if the path is even a short cut, and all this anxiety can be avoided by simply sticking to the road. But where’s the fun in that?