Fred

Fred, Freddy, Frederick, etc. refers to someone who spends lots of money on expensive cycling gear without the skill to match it. Fred's dental practice generates the revenue required by Fred's appetite for Sir Vélo™es and EPO.

Just "Fred" is the most general form of the epithet and the specific Freddiness of a particular Fred can be indicated. For example: "roadie Fred," "fixie Fred," "MTB Fred," etc. (although in the case of MTB, "Joey" may be more appropriate)

As an epithet, "Fred" is somewhat lacking since most Freds don't know what a Fred is.