I'd say that you'll have an advantage racing at altitude if you live at altitude compared to those that come "up" to race against you. As for traveling "down" to race, I'd say kicking ass will depend on the conditions. If the venue is hot and humid at sea level, the gains of living at altitude will be marginalized on race day unless you get there early enough to adapt.
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Straightenin' the curves; Flattenin' the hills
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Coached by Mike Plumb @ TriPower MultiSports
https://www.strava.com/athletes/1149072 - https://www.instagram.com/thoswoods/