Yes. Also, I don’t care about her vagina. That’s not the point. The point is that having a Y chromosome likely means her body has experienced heightened testosterone her whole life, which makes her much more physically capable than a normal woman whose body would not have experienced heightened testosterone levels. That basically means it’s unsafe for her more normal competitors to get in the ring against her, same as it would be to put her up against Hafthor Björnsson.
All Olympic athletes should be genetically tested for these things, so they can compete in the right class/heat/category.