The worst aspect of this is that it covers amateurs. Most of the people who box in the USA are probably amateurs. Newcomers with no experience. Women and girls getting involved to have fun, build a bit of confidence, learn a skill. Perhaps getting away from a difficult domestic situation, or to help them get over trauma.
The requirements for eligibility are pointless and oppressive. Also, testosterone suppression can be gamed. I doubt if the boxers are being monitored.
If it's fine for males to box adult females, why is it not ok for the less powerful U18 males to box U18 females? The answer is that they know that both are wrong but I suspect they have no legal defence of consent in the case of minors.
The policy was set at the end of last year, so perhaps the furore about the Olympics will make some think.