So about a 100-110 euro for each day if I calculated right? I mean, its not horrible considering what you get. (and the fact it is a race) But it does sound very very expensive on paper. Hope you somehow will get it man, i'm not a race person but I see why people love it!
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Its not really a race, theres a competitive side on it, but I would that only twenty riders of the 100 are in to competing. To me is more about the journey and experience itself. But like i said, I know that with that amount of money I could do it on my own and still keep some in my pocket.
Oh doing it on your own will without doubt be cheaper. I have been cycling on my own through countries for much lower prices! I have been able to keep a budget of 10 euro/day but with wild camping.