As someone who has done a bit of race bike prep, I'd say the real advantage of lockwiring is not to actually keep it from coming loose, but to quickly see what's been tightened and what hasn't. You tighten then you lock wire, or, if you're coming along and wiring later on, you check the tightness before lockwiring. Every time. On my bike all the fluid plugs, suspension fasteners, brake fasteners and sprocket fasteneres are all wired. After some (often rushed) work on the bike, you can see at a glance that all is ready to go.
Alternatively... a fair proportion of bikes on the track - at least at a historic meeting - are heaps of old shite prepared by people with little or no mechanical knowledge. In that case, a bolt that is lockwired will in theory at least not entirely fall out even if the retard didn't tighten it.