This.
Agree with your observations. Cycling may be seen as a symbol of the past.
Also, the young Chinese will chase the money and becoming a Pro Cyclist will probably depend on the money it offers. The Chinese tend to follow the Americans more than Europe, and glamour, big money sports like Golf, Tennis & Basketball are the fastest growing sports there. Can't imagine too many Chinese kids turning in to Pro Cycling in the near future.
Furthermore, the Chinese women are more dominant internationally than there male counterparts and usually, It's them who bring success first.
The lack of serious money in Womens' pro Cycling might be a hindering factor.
Definitely, They'll chase the medals. They have concentrated on high medal sports like Swimming, Fencing, Weightlifting with great success, and they'll definitely target Track Cycling, Esp the women
When or Whether they'll turn in to Road cycling will depend on how much importance and national pride they'll attach to it.
Perhaps after winning the Medal tally at the Olympics and after Chinese win multiple majors in Tennis and Golf, and a lack of success in the Tour is a blot in their nation's pride.