What is the danger of riding with low tire pressure (under-inflation) on a motorcycle?

1. Sluggish and unpredictable steering, tire overheating, rim damage over potholes, and potential tire unseating during hard cornering
2. A softer tyre puts more rubber on the road, so grip improves in every situation
3. Low pressure only matters when carrying a passenger or luggage
4. Under-inflation is self-correcting because the tyre warms up and pressure rises