With license and registration can also come better enforcement of traffic laws, which would help. Anecdotally, I haven't seen anyone on here support car drivers breaking traffic laws (except maybe minor speeding) but on several occasions seen people defending bicyclists breaking traffic laws- trading safe behavior for convenience.
Additionally, I imagine it would be easier to get (and require) bicyclists to carry catastrophic insurance, since carrying a license would at least go some way towards demonstrating safe behavior. By carrying such insurance, both cyclists and surviving family would be protected from at least some of the financial burdens of accidents.
So, yes on two counts: Incentive for safer cycling and easier access to (and possibly mandated) financial protection from accidents.
It's very hard for a cyclist to hit and run. On a bicycle, even when it's not your mistake, a mistake will usually end up killing or hurting the cyclist. It's not like a car where you can kill a non-trivial amount of people and see zero repercussions.
I should have written most reported, since there can be any number of unreported cases. But the fact stands; you can check with SFPD and SFMTA. I could post 3 more examples, but you'd just claim that there are more that don't flee but somehow evade SFPD documentation.