I would say that it is perfectly safe to ride without a battery as long your speed remains
below 30mph (48km/h) for a 26" wheel or below 23mph
(37km/h) for a 20" wheel.
Apart from the residual drag of the motor, I would not want to ride at high speed without a battery connected, as the motor can generate quite a high voltage which can exceed the voltage rating of the controller's capacitors if a battery is not able to absorb this generated current.
This is unlikely to cause a problem on a level road as the drag from the motor would prevent excessive speed, but an excessively high voltage could easily be generated on a very steep downhill run if you were not braking.
When the brakes are applied while descending a steep hill at high speed, the controller appears to automatically limit the maximum voltage to ~60V without a battery! But when the brakes are not operated, the voltage appears to keep increasing with the motor rpm.
I have ridden bikes equipped with both Smart Pies and Magic Pies without batteries when I have been leisurely cycling with my wife on relatively flat routes as we rarely exceed 15~20mph. However, I would not risk riding in excess of 30mph downhill without a battery
unless I also had a brake lever pulled sufficiently to activate the brake switch.
Alan