The altitude is the hidden climb
There is no single monster ascent here, and that fools people. What gets you is the elevation. The whole course lives up around 7,000 feet, topping out near 8,100, so even the flat and runnable sections cost you more air than they would back home. If you live near sea level, plan for the thin stuff to slow your climbing and spike your heart rate, and respect that early when everything still feels easy.
The climbing comes as a steady drumbeat of rolling montane grades on dry, dusty singletrack, not one big mountain you tick off and forget. It adds up fast: roughly 7,000 feet over the 55K, and close to double that on the 50 mile two-loop. Hike the steeper pitches with purpose, keep your effort even, and let the altitude set your ceiling instead of fighting it.