Riding a motorcycle is just as risky as skiing in my opinion. If you ride outside of your skill limits or you don't take take safety precautions according to traffic and road conditions, you are bound for trouble.
Lane splitting is meant to be done at very slow speeds when traffic is basically stopped due to a traffic event causing a slow down or heavy traffic congestion. I believe some state laws make this explicit even so that its still illegal to "weave through traffic at high speeds." There is so much that can go wrong when you fly by other drivers and cause them to react unpredictably. Its basically the same effect as when an emergency vehicle is running lights and sirens, except at least in that senario, some people know to move off to the right and stop at intersections.
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