That one has inspired some classic posts/threads. Should be soon ...

Don't know where you're located, but plan to attend next year's Horsey Hundred sponsored by the Bluegrass Cycling Club. Planned rides for three days, two of which are fully supported, all for $95. Our event is all volunteer run (the largest such event in the country so far as I'm aware), with a group of twenty or so involved in year round planning and hundreds more working the event itself. This year we drew participants for forty states and a number of Canadian provinces. Profits from the event support Club activities, including thousands of dollars of philanthropic contributions to cycling related activities in the region.

"Bandit" has been a term used by the running community for 40+ years where someone runs the race but doesn't pay the registration fee. Looks like the cycling world has "poached" the term.

For timed events in an urban area, traffic control costs alone can run over half a million dollars, whether one rider or 8,000 riders show up. Cones and signs aren't expensive, but dozens of electronic message signs for weeks in advance and police officers (and vehicles) at every signalized intersection the day of the ride add up in a hurry.

Those 'disease' rides are pretty expensive. They're competing with $20-30 rides. Personally I'd rather donate money than to pay for an expensive bike ride, then go on a cheaper ride..