Its only jack assery if you do it on crowded highways. Find an industrial complex or a large parking lot and ask the owners for permission first. Take an older model 600-750, remove the plastics and install frame sliders and a good sprocket kit. Then make sure you have a good helmet/jacket/spine protector and have at it!
When you do it for a living then most people go that far but the average guys getting crashed up are not doing that. I only went up on one wheel once and that was enough for me. I like adrenaline sports but prefer the ones that are not going to kill or maim me to do them. I have no problem trashing a 1.2K paintball gun a year but trashing a 9-11K bike a year is nuts.