At a certain level. They are all done on bikes that conform to the race org or a governing organization’s regulations. Any advantage, would come from how much more the individual has trained for the event over their opponent(s) and a handful of other things aside from equipment.
Youbikes, as @marasan mentioned, are banned from most bike related competitions/races in Taiwan. They aren’t built for that and shouldn’t be used in that way.
This, I don’t mind cameras tracking everyones movements if it comes to a benefit to the public. In the UK the police would not look into such a matter.