Yeah. Pretty much all the transphobic arguments could apply to most top athletes.

"Yao Ming is stealing sports from natural, normal height men!"

"Michael Phelps has an unfair advantage because he has unnatural lungs and bone structure!"

"It's not fair to normal men that they have to compete against Mike Tyson. Would you want your son to have to fight against that?"

The reality is that the top athletes will always be physical outliers. That doesn't mean more average folks need to be excluded from sports nor that birth gender necessarily gives you an unfair advantage compared to the top athletes.