In the olden days, it seemed like ladies figure skating was kind of a separate endeavor from most athletic contests. It wasn't so much how fast you can run, how high you can jump, how far you can throw a ball. In ladies figure skating it was more how you did things, than what you did.
That was true for the men too.
But you didn't get the commentators gushing about how attractive and charming the men were as visual commodities the way they did with the women; the commentary focused more on the technical side, or abstract discussions of aesthetics when warranted.
(Well, by the 1990s you did get some women commentators daring to gush a little.)
And many of the men resisted the incentives to make their skating refined and beautiful. If they could win by executing more difficult content or by expressing other kinds of artistry, we got to see them. Otherwise they lost to the guys who could do one more more of those things well.
Under CoP judging it is perfectly clear that Michelle wasn’t fit to lace up the boots of Weiss and Goebel. All we can say on Michelle’s behalf is, well, she was pretty good for a girl.
One way you could make a direct comparison would be in the program components. The judges are using the same scale to give numbers to both the men and the women. It's a good bet that Kwan would get better numbers there than Goebel.
You need to look at the actual individual scores for each component, not the total PCS, because that's multiplied by a factor that is lower for the women. (The reason it is lower is to make the PCS numbers comparable to the TES, which tends to be higher for the men because they tend to do harder jumps and jumps contribute the biggest chunk of the TES.)
Now for some what-ifs.
The general principles behind scoring system could be retained, but the point values could be rejiggered so that the hardest spins and step sequences are as worth much as or more than double axels, maybe significantly more, both in base mark and in potential positive GOEs. Those would be areas where women could rack up at least as many points as men.
The well-balanced program rules could be adjusted so that women get the same time limit and the same number of jumping passes as men.
Also change the well-balanced program so that women (and men) would have the option of replacing one or two of those jump passes with another spin, another step sequence, or a(nother) spiral sequence. Which would be worth doing for those skaters who can earn higher scores on those elements than on another jump.
Use the same PCS factor for both sexes.
Those tweaks would close most of the gap in long program scores.
Now here's another what-if.
Just for fun, how about holding a unisex competition, short program only. The men have to skate under the ladies' rules.
That puts the jump content limits back to what they were for men in 1998. More men than women will include triple axels and/or triple-triple combos, so we would still expect men to rack up more points for the jumps.
But how many men are going to be able to execute level 4 laybacks and spiral sequences with positive GOE?

The women's areas of superiority (as a group, not all individuals) will become readily apparent.