Only if you decide that's what it indicates. I greet almost everyone I encounter on the MUP, usually with a nod - and it can get a bit out of hand in the spring when the paths are busy - and I offer it as a gesture of respect and deference to others who have chosen to share the path with me. I commute on a carbon race bike when it's not raining, but that doesn't stop me from acknowledging wal-mart MTB riders; the equipment is not the point. Having commuted full-time for several months now on a 20km one-way route, I've come to recognize a lot of people I share the route with, and I'll exchange a full-voiced "good morning" with several different dog-walkers, old folks on scooters, and lycra-clad speed racers who've come to form parts of the community I now consider myself a part of. That sense of community has become a rare bird in our culture, and I'm always delighted to have a piece of it, especially when the cost of entry is as low as a momentary greeting.