It's an 'event' and the furthest thing from 'spectator sport' because there is literally almost nothing to spectate.
Its 3 hours of 'prep' because the courses are usually way out there, way far away from anything, and near the route traffic is upside down, maybe there is parking maybe there is none, nobody knows.
It doesn't happen at a 'venue' that's designed for sport, it happens out there in the French boondocks.
No one goes to the Kentuky Derby to watch the horses run for 90 seconds - that's much better done on TV.