Lord knows I'm not a sports guy, but even I believe a big fascination with the entire field is that someone can get the combination of physical talent and mental fortitude to make it to the top. And even at the top, like top-level soccer where basically every player, even the substitutes, are way better than the average 5-a-side player, there are transcendent talents that people talk about for decades to come.

Performance-enhancing drugs take away a lot of that fascination. It's literally cheating which is why everyone, not just government killjoys but the fans themselves hate it with a passion.

I believe there's a short SF story about a future like this, where young poor kids are suckered into pumping themselves full of PEs and competing for the benefit of "research", with their inevitable deaths and invalidity just confirming the experiments failures.

To make this work, the organizers will have to have people competing who are already near the top, to deliver those jaw-dropping results for the TV networks, but these people would understand that it's a one-way street. If the even flames out or is banned in multiple countries, they're barred from ever competing in normal events again. It's a libertarian pipe-dream, but then ofcourse Thiel backs it.