I use earphone when I ride, mostly the radio, sometimes music and very occasionally a podcast. I do my best to make sure that I am as aware as I can be of my surroundings, which I think is pretty good thing for any cyclist to do regardless of earphones or not.
I did use bone conducting earphones, which are excellent, you can still hear the environment and the music is like a background kind of thing. But when the Bluetooth started to play up, I went for some earphones but cut one off, so I just have the one in my left ear at a low to medium volume. It works well for me. That's the vital bit.. that it works well...FOR ME. I am aware that others seem to think it is not safe and I respect that but I feel that with either bone conduction or one ear free I still can be aware of my surroundings and enjoy some sounds at the same time.
I'm not looking to appreciate the subtle nuances of a concerto or expertly evaluate the tone of a symphony just a bit of a tune in the background, that sometimes can help with setting a rhythm. I see a lot of people, cyclists, runners, pedestrians and drivers who aren't that aware of what is going on around them, and most of them aren't using earphones. I think having your hearing impaired in some way doesn't automatically make you a more careless rider and having perfect auditory senses doesn't automatically mean you are completely in tune with your surroundings, personally I think it has more to do with the individual and what they can or can't cope with.
To be fair, go at any kind of speed and the wind noise tends to be louder than the radio anyway!