You are living in a very simplistic world.

Higher levels of testosterone produce more fast twitch muscles, which are good for lifting and sprinting (and also opening jars).

Lower levels result in more slow twitch muscles and thus greater endurance.

So, first of all, in some sports cis men have an advantage over cis women. Some. Running, especially over short distances is one of them. Also anything where size is an advantage. As men are taller, they generally beat women at basketball.

But these are not all sports and are, in fact, a relatively small number of sports. There is, for example, no reason other than tradition to segregate archery by gender rather than by draw strength. There's really no reason whatsoever to segregate sport shooting.

Equestrianism is already not segregated and women compete with men at the highest levels, not because all of the work is done by the horse (only people who've never ridden say that) but because the required physicality is good balance and core strength, which does not vary significantly by gender.

In open water swimming, cis women have a distinct advantage because you actually need a higher body fat percentage.

"Men have significant physical/athletic advantages over women" is just overly simplistic and doesn't take into account other variations. It fails to understand the actual effects of testosterone and estrogen on physical development.

It's easy to boil it down to that, but it doesn't show nuance.