I am conflicted.
The reality is that it would likely lead to an increase in PED use in teenagers, 99.99% of whom will never play a sport professionally, but *could* have negative impacts on their development. Also, those people at the professional level who make the choice to keep their body natural and clean, are at a disadvantage. For those reasons I would probably have to go with no.
By the same token, I can see the other side of the argument. This is extreme entertainment, and many athletes already use PEDs anyway. All body builders use anabolic steroids, etc. and everybody knows it. And while it is 'cheating', the truth is, you could not look like Kai Greene (not that most would want to) by doing your same half assed workouts and taking some 'roids. The ridiculous commitment to training, the science of training, pure grit, conscious food choices, and following the disciplined and regimented life style required to reach that level, is immense. Essentially, they are just pushing the boundaries of the sport and the human body with PEDs, but it is a level playing field b/c everybody uses. You could do the same with football and just feign like you still test, but in reality just allow the players to push the boundaries of the sport. Guys running faster, hitting harder, and throwing longer.... that is why we watch the NFL over the CFL or HS football anyways.... the entertainment value.