Wine Conondrum

Here it is:

bash-5.0$ ldd /usr/bin/wine* |grep -B1 executable
/usr/bin/wine-preloader:
	not a dynamic executable
--
/usr/bin/wine64-preloader:
	not a dynamic executable {SNIP!} 
file /usr/bin/wine-preloader /usr/bin/wine64-preloader 
/usr/bin/wine-preloader:   ELF 32-bit LSB executable, Intel 80386, version 1 (SYSV), statically linked, stripped
/usr/bin/wine64-preloader: ELF 64-bit LSB executable, x86-64, version 1 (SYSV), statically linked, stripped

Versions are:
Slackware-Current (Fresh install) 24-March-2020 iso.
Wine-4.17 Staging - Alien's build.
All compat32 stuff installed, including the gcc & glibc multilib packages. I was having messing from 32 bit stuff in wine. I seem to have sorted that, but I still have that one.

Is it the Static Linking?

What do you not understand? The command outputs are quite clear and explicit.
Perhaps you want to read up on dynamic versus static binaries.