Coming from the gym/powerlifting/bodybuilding world into cycling, I’d say this is pretty accurate.
You are unlikely to build an impressive physique whilst primarily focusing on endurance cycling however I would argue that you can maintain a good amount of muscle mass whilst moving into endurance sports.
Most cyclists don’t train like physique athletes and have no desire to bulk up 5-10kg in winter then diet down hence why hypertrophy is less pronounced .