Sport scholarships to college are a huge thing in the USA. If nothing is done to prevent them, transwomen will easily colonise the entire college offering, completely excluding the entire set of girls and young women who have done the early morning starts and gruelling training schedules in the pool, on the track or on the field since they were in single figures.
However hard they work and train, whatever women's records tumble, transitioners with all the benefits of a lived male puberty (bone length, muscle mass, heart and lung capacity etc etc) are going to clean up every time. Their times against men might look mediocre at best, but against women they look amazing.
When it's just one, the women may feel it worthwhile to continue competing for silver and second, but when it's multiple transitioners the women might as well give up and go home, forgetting their college education and abandoning their ambitions.
Even if this is not the sole aim of transitioning athletes, it will still be the outcome.