As per the linked study (https://www.medrxiv.org/content/10.1101/2021.12.23.21268276v...) the risk is still higher for the Pfizer vaccine than with covid.

Only % risk is misleading. From the conclusion of the PDF linked:

> In summary, the risk of hospital admission or death from myocarditis is greater following COVID-19 infection than following vaccination and remains modest following sequential doses of mRNA vaccine including a third booster dose of BNT162b in the overall population. However, the risk of myocarditis following vaccination is consistently higher in younger males, particularly following a second dose of RNA mRNA-1273 vaccine

This concurs with what OP is saying, but the statement is in effect misleading. The vaccine induced myocarditis risk is higher in young males. The numbers also indicate this is even higher than the risk from COVID-19 infection in that group. However, in the population in aggregate the vaccine is less likely to cause this side effect than infection.

My pet hypothesis: people who are into one of the many athletic pastimes, particularly those with a competitive component, will all do exactly one thing when faced with an appointment that comes with an attached "take a rest from exercising afterwards": they will schedule a particularly intensive workout the day before so that those rest days "don't go to waste". (source: I'm one of those and very few in my social circle don't match that pattern)

But the risk association might very well be not so much the exercise happening while under immune stress but the processes that happen during recovery doing their thing while under immune stress. Usually immune stress means infection and we don't get to schedule our infections, so this distinction (exercise time vs recovery time) will be very much unexplored.

Young males tend to be more into performance-oriented training (competitive, or focused on metrics, or both) than other population groups, and with an actual infection it might even be that the relevant immune stress does not really start before more direct symptoms suggest taking a break. Could be as simple as shifting the "no sports" instruction that comes with the jab a few days backwards.

The point is that it is misleading (or at least, premature) to say that myocarditis is more likely with the virus than with the vaccine, given that the context of this discussion is usually around young men and there is recent data that suggests the opposite for this cohort under Moderna (and perhaps Pfizer).

Also, what you say is not the case in every country. Many countries are jabbing young men with Moderna.