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there must have been some sort of explosion of obscure pedal systems in the 70s or something
Later than that (between about 84 and 94, Shimano went through a clips-n-straps pedal with a semi-locking cleat [7400], a licensed Look copy with decent bearings [7401], SPD with cleat pontoons for road racing [7410] and SPD-R [7700] in quick succession). The reason why people have stuck with SPD-R is not that they couldn't afford to modernise, or that they like the retro look, it's that SPD-R was and is the apogee track clipless.
Re the Pinarello,
Decent kit that doesn't go together, high rise stem with deep bars, spd-r pedals, tiny gear...typical old dude track bike.
They have money but don't like spending it so they buy nice parts, problem is that once they've opened their wallet and splashed out it takes them 5-10 years to do it again so nothing matches.
A lot of them have some kit left over from 'back in the day' when they might have been sponsored or on a national squad so you get nice old frames built up with more modern parts and it looks shite.
Think they see a lot of younger riders at the track using, for example, Scatto bars so they buy some then figure out that they either cant bend over or havent seen their dick in decades coz of the beer belly so have to plonk them on a big high stem or spacer stack.
Reckon they must all have ballsacks like fucking shoe leather coz they all use total arse hatchet saddles and/or have them in weird positions and there must have been some sort of explosion of obscure pedal systems in the 70s or something that loads of them have stuck with.