This isn’t gonna have a lot of factual info or anything but
I feel like it’s gay men pretty much making a mockery of femininity. Arguably I would say that the stereotypical gay male is no longer subversive and is a total member of the center, and honestly the majority of gay men who fall under such a category I’ve encountered are huge misogynists.
They also make a mockery of transpeople- them dressing up as the opposite gender as a comedic act must really make it difficult, for the transwoman especially, to try to represent their gender identity without being taken as a joke or ridiculed. Transwomen are murdered simply because of their identity, yet drag queens can appear on network television without threat.
It’s really kind of appropriating femininity and women in general if you think about it, no?