The Olympiad is a great thing for children for sure. This is not what I feel we should be wasting resources on though for AI. I question if it's even impressive.
The goalposts should focus on being able to make a coherent statement using papers on a subject with sources. At this point it can't do that for any remotely cutting edge topic. This is just a distraction.
The idea of a computer being able to solve IMO problems it has not seen before in natural language even just 3 years ago would be completely science fiction. This is astounding progress.