Yes, this ^^^.
Removing the PAIR plumbing and valve just gets rid of some engine bay clutter and cleans up under the tank. The ECU will not even detect it being missing. Removing it will reduce the exhaust popping on deceleration, which is a function of the injected air and fumes combusting. You don't hear it that much with a stock exhaust, but it's there even on my 2014, and much more noticeable on bikes with aftermarket or trooper modded mufflers. The only time the PAIR is injecting air is at idle and on over-run (deceleration) . When you accelerate or cruise it is not doing anything.
Removing the cats entirely, from the header pipes, and from the exhaust cans (on 2nd Gens only), will reduce the back pressure and may produce some limited gains in top end power. Of course once the cats are gone the PAIR does nothing except produce backfires.
BTW - My "essay" was a direct copy and paste from the FSM description of the PAIR system.