It is *not* safe to say the forces generated by the split are much less than a falling tree.
Force equals mass times acceleration. A split accelerates much faster than 32 ft/second squared. It’s also shock loading that strap or chain, which causes the material in the strap or chain to behave differently, and usually fail. I don’t want to go deep into that, but there’s a reason chains break when shock loaded well below what their safe load is. A chair is also going to shear load a strap at an angle from where it’s at its strongest so the capacity is reduced by whatever the cosine of the angle between the tree and the strap is.
Wood, in engineering, is considered to have an ultimate tensile strength (at total failure) of around ~300 psi along the grain. On a 12” tree with a 1” hinge that tree splitting along the hinge is 3600 lbs of force. You’re already over your strap’s strength, and that’s assuming it’s tight, which isn’t possible on a small tree just because of the ratcheting mechanism. So now your strap goes flying up the tree with the split, and you’re laid out or dead because you relied on a ****ing strap as a false sense of security when handling a tree instead of just taking the time to do it right.
God damn it. Just do it right. If you don’t have the false sense of security then the operator has to do it right and stay on their toes. That in and of itself is a good way to stay alive. If you don’t have the skill then just stay away and hire someone who knows how to do the job.