Frustrating for certain, but I guess they can't take on something like a cracked fairing not knowing the history of the bike...imagine every person claiming it's defective or cracked without you doing anything wrong? While you may indeed not be at fault, I would imagine plenty would lie and try for a set of free plastics.
I wish things were different, but I can understand a huge corporation not covering something cosmetic on the Busa. I would imagine companies like Honda and Kawasaki would handle things in much the same way.
Don't feel bad...I was told 6 years ago that my bike cutting off on me for no apparent reason was because I wasn't "capable or operating it correctly". I was then told to never contact the local Suzuki dealer for any warranty work because I didn't buy from them and they would refuse me service. I learned that day that most things "under warranty" would no doubt be a huge hassle for me to get covered, hence I never even opted for the ext. coverage.
So sorry for your fairing though; that's frustrating