This road looks too hazardous and narrow for automobiles, because there's no fence! What kind of road is this? Solely for pedestrians?
That's clearly an automobile road. Having a steep dropoff on one side of the road is really not that unusual. The normal way to deal with that is to add a guardrail, which appears to be there. A typical "fence" would not stop a car sliding off a road, but that's exactly the point of a guardrail.
What makes this look so dramatic is that the slope keeps going for a long distance from the road, but even that is not unusual for mountain roads. Keep in mind, though, that a 5 meter drop is probably about as dangerous as a 100 meter drop. In any case, cars drive by both routinely many many times per day all around the world. There are dropoffs with a steeper angle (although shorter distance) along many "ordinary" roads.