I don't see the problem with this. It gets the best athletes in the sport to places where people would not normally get to see them. The real problem is the proliferation of time trial "races" as opposed to real head to head competitions. However, if they are going to be held as time trials, might as well get these great athletes out in front of potential fans around the world, not just in Boston, New York, London, Berlin, and Chicago.
If not bringing the greatest to these races meant they would all be racing head to head in some real competition, great, get rid of this. If not, and I highly doubt it would, then keep things as they are.