Thinking about it a little more I think it really depends on the road conditions where you ride. If there aren't any cars around then the pedal bike is much safer. If the roads have a good shoulder then the pedal bike is probably still safer. If it's like around here where the roads are narrow with no shoulders and twist and turn and bicycles are rare then the motorcycle is safer. I've ridden motorcyle and bicycle for over 40 years and wouldn't think twice about riding the motorcycle on any road. For the bicycle probably half the roads in a 20 mile radius of me I would consider strictly off limits and about half of the rest I try to avoid.
So how do we get the state to make the roads that are reasonably safe for bicycles?