This is true across the board - bikes and cars. The more **** you have on your key chain, the more likely it's going to cause the ignition switch to fail. Happened to a few Fords I owned, probably a more of a cause for GM's current ignition switch recalls than the fix the engineers suggested*, which is why some car companies have gone to the short range radio keys and push button starts.

*A couple dollars spent on harder metals would also have saved GMs *** too.

 

I've been running this for a couple of years. The lines on my key may be a hair deeper than on my 2nd key (which only ever was in the stock location), but it might've looked like that in the stock location too.
I never have any **** hanging with the key, I'm sure that does help.
I'm perfectly happy with mine.