Then there's the matter of paying the most for the best coaches, best data analytics to optimize the bio performance of the human individual, etc.
I'd argue that you can't really say that money is the reason for not include or limiting technology. If it's about a level playing field, then money should be the first thing to remove.
How about a random sampling of a country/city's population? Have them compete against each-other. Otherwise, it'll always be about money as it's integral to sport.
Bicycle racing, whose equipment is required to have only one source of power, a certain minimum weight, and no disc brakes (and maybe a couple others) is probably one of the less-constrained pro sports.
All of this make bike riding sport more entertaining. I guess I can put it next to Formula 1 - low and high velocities, fast and slow turns, attacks, defense, etc.
The recumbent riding would be mostly technological and would have less action. I guess I can put it next to NASCAR - high velocities, slow turns, slow attacks.
I think that recumbent would be good for US, I also guess rest of world would prefer diamond bikes.
It's either about the athletic competition or it's not. If it's about the athletic condition, then the impact of technological factors should be minimized.