It does look terrible, however it definitely serves a useful purpose. Since the LA basin is basically desert, the ground doesn’t soak up water very well, which leaves it prone to flash flooding.
So the dangerous part about physically being in the concrete river is that it might rain in the mountains 50 miles away, and in just a few minutes there’s a roaring wave of water passing through. Every time it rains out there, someone inevitably gets caught up in it and needs to be rescued, or worse.