Heres a comparison for ya. 125CC Suzuki RM125 2 stroke VS My 2001 Honda Sportrax 400ex 4 stroke. The RM125 is piped my 400ex stock. Dead even drag race until I hit 5th gear and I pull away because of gearing. I hit 67mph top-end turning 9k rpm.
The RM125 is WAY lighter being a smaller dirt bike, my 400ex weighs 375 lbs dry I think.
My 400ex is about even with a 250cc 4 stroke dirt bike depending on the motor, all motors are certainly not created equally lol.
I love my 400cc 4-stroke quad though, MUCH less maintenance and its a lot quieter which for trail riding I prefer, and its got enough power to satisfy me even stock.
But, 2 strokes are still pretty much doomed, I think 4-strokes are better, even thought 2-strokes make a lot more power out of less displacement and weight savings. For me the maintenance, smoothness and quietness of a 4-stroke is better than the 2-strokes.
I still have 2 2-stroke jet skis though, one of which needs some work, it smokes A LOT, their other one runs pretty clean. But the one thats smokes a lot also has some performance mods, which I don't know what are, I suspect it has reeds in the motor and some intake work.