Bullets "flying through the sky," not "falling from the sky."
The statement that a falling bullet lacks the energy to be lethal is like advice from Microsoft technical support -- technically accurate but more or less useless. [*] Technically correct because a falling slug simply does not have enough kinetic energy to be lethal. More or less useless because the kind of stupid drunken yahoos who treat firearms as party noisemakers are unlikely to hang a plumb bob and be careful to fire straight up.
A few degrees off plumb, and you're no longer talking about something going up and faling down -- you're talking about something following a ballistically-stable arc, and that's a whole 'nother animal. They can and do kill.
* - Semi-old joke: A helicopter pilot is surprised by a sudden fog bank and a sudden instrument failure. Flying slowly and looking for a safe spot to land, he sees a high-rise with people inside. Digging around in the back, the passenger grabs a piece of poster board and a marker (just go with it), and writes, WHERE ARE WE?
The people in the building signal that they have received the message, wheel over a white board, and write on it 'YOU ARE IN A HELICOPTER."
The pilot nods, flicks the controls, and has the copter safely on the ground five minutes later. The stunned passenger asks, "how did you do that?" The pilot answers, "The folks in the building gave us an answer that was completely correct and utterly useless. From that, I knew we had to be on the Microsoft campus, and the Redmond airport is a few miles due east of there."
(I don't even know if there's really a Redmond airport, so folks who know Washington State geography, please take it easy on me.)
True but it really depends on your position on the arc. If you were close to the end of the arc you could, theoretically, catch the bullet in your hand since it's speed is approaching zero.