The answer is the last option: Someone else may view the actions of the female cyclists as admirable and impressive.
Something is subjective when it is a judgement influenced by personal feelings and outlooks. And these events happened in the 1900, so you could say that whoever wrote the piece was subjective and biased againt women in general, and if it had been men competing even if no money was involved they'd say it was a great show of sportsmanship
