It‘s collectivism/central planning/mixed economy etc in the sense that private company owners pursue their own profits while being protected and subsidised by the state in countless ways - from municipalities paying for races to sponsorship by state owned companies, passing through sports...
Doesn't this race(and several of the recent ones) prove that there's very little depth? If the races were longer, only a handful would be able to finish?
https://www.procyclingstats.com/race/world-championship-we/2018/results