I'm not sure what you'd call that but it's not what I mean by a squat and it's not really strength training though I'm sure it's an excellent workout.

If you can do hundreds of squats with one leg, it means you're not lifting anywhere near enough weight to get the benefits that squats are intended to give you.

A true squat is you, a barbell, and some plates. No machines. A Barbell sits on your shoulders and is also supported by your arms. You lower the weight by bending your knees, hips, and ankles. You don't stop until your thighs are parallel to the floor which is often much lower than you think. There is controversy over how low you should really go but that's another discussion. Nothing you do on a bike is like this part of a squat.

You then raise the weights by extending your legs until you're standing upright. Some like to explode upward.

Squats are something I hate doing with a passion. It is very tempting to cheat. They suck, suck, suck. But they work.