There is quite the chance he'll drop dead, so I personally think his method is irrational under the vast majority of circumstances. In the case that winning an endurance bike race saves one million lives this strategy is not that bad, however.
That's a value judgement. He appears to think the risks he places himelf in when he's not in control are an acceptable price for the utility he derives from his bicycling.
This 2006 New York Times story is about Jure Robic, a Slovenian ultra long distance bicycler who goes seriously insane when he pushes himself far enough during the races. At the point he feels like dying out of fatigue he still has a major portion (estimated 50 % by his team) of his strength left. So he hands over control to his team and with their help, pushes himself into the realm of insanity and gives up control to the team:
His success isn't because of exceptional physiology or training:
The whole thing is an intriguing example of making an extraordinary, desperate effort by knowing that even when his body and brain scream for him to stop, he can go further, and doing so. Also, pushing one's self to become insane isn't the sensible thing to do, but for him, it is the path that wins.