Two years ago the FIM introduced Next Generation Supersport regulations, which balance the performance of various engine types. Long story short, the Ducati has the power turned down to make it equal to the 600s. In World Supersport, the MV F3 800 and Triumph 765 also compete in Supersport. In the US, the GSX-R750 races in Supersport. In the future, KTM will homologate an new 990 RC model and Yamaha will bring the R9 triple at some point.
These Next Gen regs are the culmination of a slow-moving (and somewhat unpopular) metamorphosis of the Supersport class into balance of performance regulations. The change arguably started under DMG when they created the Daytona Sportbike class in AMA Pro, but they were attempting to balance motorcycles before throttle by wire. The FIM Next Gen rules require throttle by wire.
The concept generally works like this: The FIM sets a target torque/horsepower output and operating rev range. The teams submit a list of modification parts and engine tune mapping. The FIM homologates the parts and engine operating parameters. All teams run the same performance parts and same state of tune, which can vary by series and region. Performance is enforced by monitoring throttle opening (among other things) with an electronic tattle tale. In SBK they monitor fuel flow, too.
The issue with the Next Gen regs is that they balance engine/bike performance in a short-circuit environment. Racing flat-out on open roads is not a strength of the new regs, but it sounds like the IOM organizers have addressed some of those issues, and they have chosen to adopt Next Gen Supersport going forward.