There's also the pretty significant issue of compatibility.
Look at something the CAT Cheetah, which doesn't actually test all that well aerodynamically in the tunnel. I suspect it's actually faster *as ridden* than many bikes because of the integrated drink system vs. bottles on the frame or in rear-carriers, but that's another topic...
What's notable about the CAT is that it has it's own custom hydraulic brakes. I *think* it also requires it's own special rear hub.
Or look at the Walser, now sort-of brought to market by Focus with one BIG change - it uses a normal crankset. The old Walser used a narrow-axle crankset. And the narrower BB shell that resulted in was a significant part of the drag savings, especially at lower yaws (which are typical for cyclists riding at 50kph+).
So it's not just the current rules. It's the current standards for hub-spacing, derailleur hanging, crankset-width, cassette spacing, etc. that also play a massive role in limiting design.
You can see the limits these parts play with things like brakes being the first to get integrated. Now aerobars are following suit. Cranksets could follow - both Specialized and Cannondale make their own, excellent cranks - but narrowing them up would affect Q-factor, which is a potentially big issue, and you also can't narrow them too much without it affecting chainline.
But do companies really want to make their own derailleurs? Shifters? Cassettes? Wheels? Hubs? I don't know. But that means until they decide they do, they need to play nice with the folks that do. Look at Cannondale and the Lefty fork. Great design, but it requires a proprietary hub design. Mavic bought in. But who else?
So it's not just double-diamond that's a limiter.
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