Much of it prep yes, but taking test shots and checking in LR and adjusting? I think preprocessing is a better description
Either way, you and others I agree with about the time - is it better to spend an hour prepping for a shot and then taking it? Or spending 5 minutes in photoshop afterwards? There is definitely benefit in getting as close to right to begin with, especially with repetitive shots like the bicycle example, or my recent experience shooting hockey portraits - basically doing the same PP 30 times in a row was not pleasurable!