Is anybody still making/riding bikes like the OP's bike?

Both 700c wheels?

With the bike configured as above, one likely has a rider that is 6'5" or so, with the smallest frame possible.

Is the stem too short there?

That actually looks more like a vintage-ish retro bike with standard drops than anything that I'd expect to see on a course today.

Brakeless with compact drop bars (which are designed for brake positioning)?

Urban messengers trying to look cool riding inappropriate fixies?