As a principle, it’s ridiculous. Even if you could apply the rainbow variables & a unicorn algorithm, you’d need multiple categories in order to get your first female competitors at any meaningful level. As in, class A, class B, class C etc. maybe by class E the best women appear

But there are males & females in class E. So the best female in the planet, maybe in history (Serena Williams, Ledecky etc), will line up against males who are matched with them for things like strength, power, body fat, endurance, height etc. That male, to be blunt, is mediocre

Consequently, the best women in history would be beaten, regularly, by relatively mediocre males who are perhaps at the 75th percentile. At this point, one reading this may say “so what?”, and then the question is “what do you have against women/biological females!”

The response to that may be (as it was) why separate on the basis of sex (not gender, take note) but not race. Well, the problem is that races don’t differ biologically in fundamental ways that predispose one or another to enormous sports advantages that are typically 10% or more