At this stage, I would suggest that they do have some advantage. It remains to be measured however.
That is the nub of my disagreement. We don't need to measure the advantage, we only need to know that the source of it is being male. Not natural advantages which occur in the female population.
Height is also notable because tall women are rarer than tall men.
Ross Tucker gives the example of an unfit cyclist hiding a small engine in the frame of the bike - that competitor wouldn't win the bike race but having the engine would still be an unfair advantage. Ditto a very small amount of exogenous testosterone - the cheater might not win but they would do better than they would otherwise due to an illegitimate source of advantage.
Debating whether the advantage is insurmountable is so close to the meaningful competition argument which Jon Pike writes about - that if women have some chance of winning against males who claim to be women who are testosterone suppressed and taking cross-sex hormones, ie if MCWs don't always win women's competitions, then that that is meaningful competition. Whereas of course it is not fair competition because the males have something that women cannot train for, ie male advantage.