Sure - so, the shoes are a huge advantage. But why not?
To me, that's what your post is really getting at: the deeper question of whether and why there's some point at which we should consider the event to be "different events" for all practical purposes at different points in time. If we ran in mecha-suits that propelled everyone to sub-5 second 100 meter times, we'd probably say that's just a different event ---- and, I suspect, not just because there's an additional element involved with getting down the track; the huge difference in times would play a part in our prescriptive conceptualizing of same/different event.
But also think of something like American football. In the last few decades, the rules - both on paper and how they are enforced - have been changed considerably to facilitate greater passing. The ball is shaped differently than it once was for the same reason. Padding has changed, tackling has changed. Different rules, different equipment, different universes for statistics - and yet we think of Don Hutson as playing the same position as Tyreek Hill.* Would Hutson think it "cheating" that he had to beat guys who could essentially hold him off the line, while Tyreek does not have that problem? Maybe. But we still think of it as the same sport, and we think of Hutson as great relative to the era.
It's a good question, IMO, and I was overly dismissive earlier. To me, the degree of performances are similar enough that I don't think of this as "history erasing."
* Hutson allegedly ran 9.7 in the 100-yard dash as a freshman college without any practice. What's that work out to? Ivory Crockett did 9.0ht, and ran 10.1ht in the 100m a few years earlier, presumably before his peak. 100 yards = 91.44 meters, or you need to run an additional 8.56 meters to run 100 meters. By my math and estimates, with a normal finish, that's another 0.82-0.83, so.....10.5ish in the 100 meters, in 1931-1932, the world record was 10.3ht (around 0.2 ahead of Hutson), while the 100 yard record was 9.4 (around 0.3 ahead of Hutson).
Tyreek Hill's best 100 meter time is 10.19 FAT, or 0.61 off the current world record.
Relatively speaking, Hutson was much closer to world elite class speed than Hill is today. Imagine being a defensive back in 1940 and Hutson gets a sliver of space to run. Ouch.
I sound like Deno/Brutal now.