Because the sport is better for everyone if you aren't required to buy $250 shoes to have a chance to win. It's the same with the swim suits. If a new piece o

Because the sport is better for everyone if you aren't required to buy $250 shoes to have a chance to win. It's the same with the swim suits. If a new piece of equipment comes out that makes you 5% more efficient, then anyone who wants a chance to actually compete needs to buy it. It's just like a tax on competitors. Otherwise running and swimming would just turn into cycling where you are basically forced to buy an expensive bike to compete.