They'd still be regulated.

Baseball doesn't allow aluminum bats, or rocket-powered pitching machines.

Aaron got the main point - everyone would be allowed to use the same equipment. Steroids give an advantage to the person using the equipment. They'd be able to pedal faster than normal, or be strong enough to not have to change gears on a hill.....

As for the healthy part - the powers that be sure came up with a natural way to turn people away from steriods. I'm an athlete, but for most of my life, I've been on the cusp of being a VERY good athlete. Steriods could have solved that problem for me... except they shrink your nads. If they made your eyes turn green, or your hair blue... I'd think about taking them. But no benefit of sports is good enough to shrink your nads.