Just take the bike out of the race entirely. Declare a year in advance that the bike will be XYZ model Q so people can train on them, and the race maintains custody of all race bikes, spares, etc. It's already a money-competition to see who can buy the best super-bike. Yes, you have to have a minimum weight, but that just means that you can take a superbike and spend the extra weight applying aerodynamic fairings whe…
Some of the greatest moments in cycling are directly related to technical progress, most obviously the Obree/Boardman battle for the hour record. On one side a professional champion with a million pound superbike, on the other an unknown amateur with a bike he built himself. Many fans complain that the current regulations are too conservative and provide too little opportunity for technical innovation.
Cycle racing exists in a symbiotic relationship with cycle manufacturing. Race wins sell bikes, bike sales fund race wins. Cut the manufacturers out of the sport and they take a huge chunk of sponsorship with them.