Even if the results would actually be on average equal it is by definition not fair.
Someone running the 100m dash on a proper track against someone else who is doing the 100m uphill, on a dune, but pulled by an electric winch or whatever, both might end up with 12s times, but they clearly did not compete in the same thing. There would be no point calling it a 100m race between them.
Isn't that an essential part of any sport and fair competition? that all play with the same rules and means? Records in running are only valid if the wind is within a certain value. And only a few sports not only allow but are based on a deviation of that, eg F1 and its constructors competition which makes the driver competition actually just weird and kind of meaningless.
Rubberbanding in racing games for couch coop, okay, to even the game out and make it challenging for the better player, and winable for the weaker player, since it would be immediately boring otherwise, but online you should be matched with fair competition where there is choice among a bunch of (ranked) people and you are not up against your much younger sibling or spending some time with granny or something.
Aim assist potentially outweighing m+k accuracy and turn speed and then thrown together... no thanks, I am average at best in either but I don't want to feel like I play against players that have an advantage, imagined or not, so either conclusion should be avoided until player count really requires to form one pot.