Well, considering the kind of cheesecake one is liable to see in comics, or how any number of other comic artists would probably do the "gotham girls pose on bikes" concept, this is really not all that cheesecakey. No one's cleavage or butts are hanging out, nobody's spine is unnaturally twisted or contorted, and they aren't ridiculously posed. Relatively low on the cheesecake factor, I'd say, despite it being an inherently cheesecakey concept.
I'd say Ivy's ass is hanging out, and she's in the very typical pose that automotive industry models use to sell bikes - and by my standards, it's still pretty cheesecakey for comics. Nguyen did a MUCH better job when he put Zealot on a motorcycle.
As for Harley, look at her left leg in relation to the right. Look at the shape of her thighs. Legs and pelvises don't work that way. Nothing works that way. It's jarring in a piece where otherwise more realistic anatomy is rendered. I love Nguyen, but this isn't his best work.