> Conclusion: SSB consumption is significantly associated with low serum testosterone in men 20–39 years old in the United States.
That being said, if I am interpreting Table 2 correctly, the study is saying that consuming a large amount of surgery beverages causes your risk of having low-testosterone related problems to rise by 2.29 times compared to not drinking many sugary beverages. This is after correcting for age, race, BMI, alcoholism, and physical activity levels.
The risk increase before correcting for these things is 2.78 times, so that would seem to indicate that sugary beverages do have a pretty large effect compared to the confounders they choose, though it is still possible sugary beverage consumption is acting as a proxy for something else.