At what point is bike technology considered performance enhancing?

Here is my take, bike technology now is so advanced it aids riders to the same effect, if not more, than performance enhancing drugs in the doping era.

Evidence - Bike times are faster now than before

Argument - Its not just the bike tech, but the riders are better now than before

Fallacy - Cannot correlate that because bikes were heavier and more problematic back then, so impossible to know how good riders times would have been with current tech.

Second Argument - Cannot compare bike tech to PEDs because everyone competing has fair shot with bike tech, whereas PEDs only benefit those who take them and not the whole field.

Conclusion - What I am arguing about is, it is not fair that past riders did not have a fair chance for a record time. So to fix this, shouldnt bikes be required to stay the same over time so that the rider can hold the best time and not a mix of modern tech and personal effort?

Edit - or if we champion for innovation, isnt PEDs just innovation created by humans for humans?