If a "serious cyclist" has a four year old, mixed-material frame (yuck), the frame cracks, and that "serious cyclist" is okay with a bike shop replacing the frame and building the replacement up at a cost of approx. $2000 without even discussing options beforehand, then I guess my definition of a "serious cyclist" is different than some.
This sounds more like a "busy businessman with more money than sense" kind of cyclist to me.