As an athlete, if you cheat by using banned substances, and are caught I believe that it is right that you do not compete again at an Olympics. Whilst other championships may allow this and I guess rightly so once you have done your time, the Olympics should be the ultimate competition and reward only those who have competed fairly.
That's where the conjecture comes in because what about the athletes that have cheated not been caught and possibly won medals?
This is undoubtedly and unfortunately probably true but that should not prevent change to make the Olympics pure again. With extensive testing both in and out of competition the chances are reduced. Let those athletes participate in other events but keep the Olympics as pure as can be.