Historically haven't all (non-cycling) company sponsors been by virtue of the fact that either the owner or 'CEO' has an interest in cycling?
Brooklyn Chewing Gum, Bic, Molteni, ADR, Super Confex, Bora Hansgrohe, Quick Step Floors...the list is endless.
Astana, Ineos, Sky, Saxo, Tinkoff, Prince Khalifa.
Yes, but that's my point. Those are personality-based rather than market-based. So while some, like Quick-Step, are in for the long haul, there tends to be a lot of overall disruption as the whims of personalities change. I think there's certainly a place for cycling being the plaything of the super rich. Cheaper than Formula 1 or futbol. But making it the predominant form of most team funding makes for a lot of instability.
I always thought teams and/or riders should share in media rights so they have revenue streams independent of those personalities. But the ASO and the other race promoters will hold that to the grave.