The San Diego sheriff created a video a couple years ago showing how quickly they could steal a bike. Some of them were ridiculously easy. Video is gone now, but I think CBR's were hotwired in under 10 seconds. Guy just reached into the wire harness, fiddled with it, and vroom.
on some motorcycles, the ignition key module is connected to the rest of the wiring harness with an easily sourced connector.
it's relatively trivial to build a pigtail with that connector (and many other security "features") to bypass the key altogether.
at that point, all you'd need is access to the connector and an unlocked (or broken) steering lock.