I agree. Most of this organizations are a money making machine in the good old boy club. They charge the participant $3500 plus all other fees. The sale of merchandise and media coverage etc are lots of profits.
I can't speak for the way the TransPac is organised (although from hearing my Dad speak of his race a few years back, I got the impression it was properly and professionally organised and run) but I do think your ignorance is showing.
FYI, major race organisation typically requires large amounts of money to be forked out in insurance, professional event management, advertising and venue hire. Someone else has to get the merchandise made in the first place - and pay for it - whether it is sold or not, and the media must be informed and corralled each step of the way (more $$$) or the whole event descends into chaos. If you look into it you'll find the race entry fees only just cover the insurance and operations side, which typically runs 24hrs from before that race start to after the finish. The bigger (and longer) the race the higher the cost for things like charter of a radio-relay vessel or GPS tracking of each competitor.
From my limited personal experience with yacht race organisation in this part of the world, I have yet to come across any event that was a "money making machine". Indeed, without the tireless (and unrewarded by hangers-on like yourself) efforts of countless volunteers
working long hours for no money at all - simply the love of the sport - and the financial backing of one or more major sponsors ALL
major yachting events in the world today (even the current America's Cup event, FWIW) would run at a loss and there'd be no race for you to compete in!
"Profits"? "Good old boy club"?? I don't think so..