There is a difference between drinking and smoking, though. One can be done safely even though it has the potential for harm, one is always harmful when used as directed. One of the rationales of anti-doping is that drugs are potentially harmful even when used properly, and it is unreasonable to expect every participant to expose themselves to such potential harm just to be on a level playing field. Therefore, even a toleration of 'safe' PEDs would necessarily be accompanied by a prohibition on unsafe ones, or unsafe dosing regimes of those which are considered safe at some level, so the testing regime would still need to be just as extensive (and expensive) as it is now, just with different lists and thresholds, and people would still cheat, still get caught, and we'd still be waiting to find out who really won this year's Tour.
There is a difference between drinking and smoking, though. One can be done safely even though it has the potential for harm, one is always harmful when used as directed. One of the rationales of anti-doping is that drugs are potentially harmful even when used properly, and it is unreasonable to expect every participant to expose themselves to such potential harm just to be on a level playing field. Therefore, even a toleration of 'safe' PEDs would necessarily be accompanied by a prohibition on unsafe ones, or unsafe dosing regimes of those which are considered safe at some level, so the testing regime would still need to be just as extensive (and expensive) as it is now, just with different lists and thresholds, and people would still cheat, still get caught, and we'd still be waiting to find out who really won this year's Tour.