I have seen a lot of engines that looked similar to this when they are mechanically over-reved. There use to be a local track that had a wide open 4th gear jump that had a 180 2nd gear turn about 50 feet after you landed off of the jump. Some riders would down shift into 2nd gear while they were in the air and land with the clutch out. 250s turning 8000 RPM or more when they left the jump in 4th gear would be revved to around 12, 000 RPM or more when the rear tire touched the ground. 125s leaving the jump in 5th gear turning 11000 RPM more might see over 15,000 RPM when the wheel touched the ground.
Engines that are over-revved to the point to caused a catastrophic failure usually pull the wrist pin boss out of the piston, pull the connecting rod apart somewhere along the I-beam section of the rod or the rod breaks through one of the lubrication holes in the wrist pin end of the rod.
It looks like the wrist pin boss of the piston failed first, not the connecting rod. If the con rod failed first the wrist pin end of the con rod will usually be "opened up" and the wrist pin boss of the piston will still be in tack, with the wrist pin still in the piston.
When the piston becomes disconnected from the rod, it will sometimes hit the head so hard that it will pull the head studs out of the cylinder or pull the cylinder base studs out of the cases. I have also seen the tops of acorn nuts pop off when the piston hits the head in these types of failures.