I mean, it has been this way since the 1980s.. but nowadays it's often "Company 1 Company 2 Company 3" instead of "Sponsor Team". And stupid sponsorship names that are very long dont help either
Well, at least three of those are actually car manufacturing companies that used their competition teams to both promote their vehicles and showcase new R&D achievements. Even RedBull has a reputation and history of marketing towards high intensity thrill seeking and adrenaline junkies, which makes sense in a high risk high stakes sport. There's a qualitative difference between Ferrari and VisaCashappWalmart or whatever it is they're doing now.
Search for "visacashapprb" on your favorite search engine (I just tested Google and Duckduckgo), and they will show a result with a link to the new insta-handle