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Except for winning competitions, is there any natural advantage of bodybuilding for both men and women?For the 'extreme' of what most competitors go through? Probably not.
But resistance/strength training more generally is probably beneficial:
* https://en.wikipedia.org/wiki/Strength_training
For women especially, as they age about one-third suffer from osteoporosis, and lifting (heavy!) weights forces body adaptions that help strengthen bones. One also often hears about seniors slipping/falling and breaking hips, which can cause a downward health spiral: doing squats and deadlifts with respectable weights (1.0x to 1.5x your bodyweight) would probably help with that.
Some simple tests can reliably predict longevity: number of push-ups that can be done, speed of walking up stairs, and a sitting-rising test:
* https://www.discovermagazine.com/health/simple-sitting-test-...
All involved strength more than aerobic ability.
There's also the fact that strength is useful in life: from carrying children and groceries, moving (heavy) items, etc. It will also help in keeping one's independence when older: I see infomercials about electric chairs to help the elderly up and down stairs. That's completely unnecessary if one has sufficient muscle mass (which is harder to keep as one ages) for mobility and stability.
* https://www.health.harvard.edu/staying-healthy/want-to-live-...
If one has a limited amount of time, the one activity that I'd do (and do personally) is weight training. The main disadvantage is that some equipment is needed, and with gyms closed nowadays it's hard to get much done. As a fall-back I have taken up running, but it's not my first choice (though I cycled to work pre-WFH).