Elite gymnasts from the early 90's were the stereotypical 4'10, 75 lb. waifs...however if you take a look at the gymnasts from the 96 team to the current team, they were/are much more healthy and muscular looking. USA Gymnastics did a lot of work as an organization to educate and help prevent eating disorders (and the injuries associated with them) within the sport. Not saying they don't happen, but the elite gymnasts of today (at least Americans) are much healthier than say 15 years ago. And, gymnastics does not stunt growth. Shorter gymnasts tend to be more successful, due to the nature of the sport, and from what I've seen, the shorter, more muscularly compact gymnasts tend to have better durability in the sport (i.e. their bodies handle the pounding a little better than say a taller, lankier gymnast).
I'm not saying that training as an elite gymnast doesn't take a toll on the body (trust me, I know this from experience), but I would not say that competitive gymnastics at all levels and for all people is "terrible for the body." In fact, it promotes strength and power while still maintaining flexibility, balance and grace...not to mention overall fitness.
Sorry for the rant....just felt the need to defend the sport