and it saves you a lot for the long run by shortening your life expectancy !
Cutting traffic means that you are taking risks, in some parts of Europe motorcycles are expected to drive like a car hence they are not saving you in traffic.
I haven't seen evidence that lane splitting is more dangerous when done with a reasonable speed difference, plus it saves you from getting rear-ended when staying directly in lane.
And yes, motorcycles are dangerous, as with many other fun things in life. I accept that.