Yes, it is a privilege, but you have the direction of the privilege backwards.  The Register can and would be replaced in two seconds flat.  You’d either have local Iowan towns sponsoring/organizing the ride or some other ride would take over all that business.  The Register has only ‘tradition’ that keeps it what it is and has little to no power to break anything.

The Register should remember that having 10-20k people ride across their state spending etc. is a privilege, not a right.