This is an ingenious idea, but also, have you ever heard of holding the umbrella higher? This is one of those extra luxuries like a back-up camera in a car. Oh, so you can't turn around? We made it this long just turning our bodies to see what's behind us. Why do we suddenly need cameras? Anyway, back to the umbrella. It's nice to have eye-holes so your face doesn't get wet, but are you really telling me that's an effective eye-hole? There's going to be water running down it, and it's going to be a foot and a half away from your face.
Seriously, just hold the umbrella higher. It's that easy. Yeah, your face can still get wet, but if you have that much horizontal rain, then something much worse is going on. A geostorm possibly.