The bike in the OP is meant for time trial bars. Putting the drops on there makes it look funny. And when you have a ridiculous seat to bar drop, having a short stem is pretty much the only way to make it rideable. There are plenty of bikes like that still made. Although pursuit is a specialty that not that many people pursue to the degree that they have a specialized bike for it.

I did go look at red hook crit bikes on google images. They are almost all riding level top tube bikes with about a normal (for racers) seat to bar drop. And road bars. They are all racing in the drops, nobody has a position so radical that they can't do that. There was a frame with a top tube that sloped to the front, but they did that by raising the back of the top tube.

I guarantee whoever rides the bike in the op never gets in the drops, they are always riding around on the top of the bars. Not good for racing.

I tracked down the bike in the OP. Most people either have bullhorns on it or even riser straight bars. Didn't find one set up for racing.