I get why the bike smokes when broke, it's easier to just use the same effects on all vehicles. Less work and keeps things consistent.
However it really sticks out like a sore thumb, unless you hook up that bottom bracket to the engine of a car and rev the shiz out of it, there is no possible way for the bearings in that bike to spin so fast they ignite and smoke.
Do we now make hand tools like the pickaxe and fireaxe erupt in smoke and flames when their durability hits 0? Course not ( I'd hope) because that would be silly and not make any rational sence.
There are more believable with minimal dev time ways to communicate to the player the bike has broken. You could use sound effects like a tire popping or gears jamming, you could make the wheel animations hitch to make it look like somthing has broken/bent/warped preventing them spinning smoothly.
Simply copy pasting the fx for the other vehicles on to a bicycle is a very "it's 16:59 on Friday" solution