I'm not really sure what the context of the question is, but yes, I believe it's legit.
There's a governing body, USAC; a license system based on experience and accomplishment; local associations, that do something, I can't remember what; races that are organized with a promoter, with licensed officials; and teams, with athletes that participate in said events. There are also national championship events for elite level and age graded (masters, juniors) administered by USAC.
gsteinb described the majority of cheating that goes on, which I concur with in my experience and observations. I've known more than one athlete who's been caught doping and was suspended from racing, and I've been tested myself after a local championship criterium where I finished 7th (they tested 1st and 2nd place, then me. the usada had decided prior to the race that they were testing 1st, 2nd, and they pulled a # from a hat to arrive at 7th. I can't imagine I was targeted given that my results scream pack fodder, but targeted testing based on "tips" is rumored to occur).
International licenses have created issues. My understanding is that someone with an international license, in the absence of a USAC license, is automatically supposed to be a Cat 1. But, I've seen guys with international licenses go outside the local association area and do lower cat (3/4) races for $$. Eventually they get caught and blackballed, but it can take a while.
Any race I've done, participants need to show their racing license at registration to participate. In local races, where the community isnt that large and everyone kind of knows each other, license checking doesnt always happen because it's not necessary.
I can't imagine there's much equipment cheating going on, and I honestly believe that actual performance enhancing drug use is de minimus in the sport at the US amateur level.