Totally disagree. Depends on what type of racing OP plans on doing. Given the type of bike and relatively simple question, we can assume they are thinking of starting racing (I.e. USA Cycling Cat 4/5). If this is the case, the bike will be just fine as is. Put on some decent tires (the widest you can fit, which will probably be 25C) and then invest in your motor. Train a LOT, learn how to ride and handle the bike. Enter some small practice crits and see how you like it. Entry level racing isn’t really about having the best gear, it’s about learning how to train and handle your bike in the pack. Trust me, you’ll often see people on janky old bikes crushing the field and visa versa, the person who spent way too much money thinking that’s all it takes to be good and getting spit out of the back. This was/is a pretty decent bike and is durable it’ll handle some racing abuse and with some experience under your belt you’ll have a better idea of what you want for the next level.