First, it’s not a study directly correlating creatine and hair loss. You’re assuming that the findings of the difference in DHT: T ratio and the increased DHT value from creatine consumption means it will lead to hair loss. Also, there’s been several other studies (listed below) showing that creatine doesn’t affect testosterone levels, and with DHT being a metabolite of testosterone, it’s doubtful it would cause an increase in DHT. Another factor to consider is that strength training has been correlated with increasing testosterone
Steroids in creatine? Why? What benefit does a supplement company gain from mislabeling? They have more to lose by incorrectly labeling a product. Oral steroids have been shown to be dangerous on the liver. Also, creatine would be more costly if steroids were placed into the product.
Here are the others studies showing that testosterone does not get affected with creatine consumption: