toad Yes it's about LGBT rights, but even that isn't simple.
It's worth looking at @babybarrister's post on page 14. They've summed up some of the issues / interpretations well.
Another way of thinking about it is that I support gay rights, but feel gender identity isn't in the same category. For me there are sexuality issues and gender issues so putting trans in with lesbian, gay and bisexual issues doesn't fit for me. I'm in favour of trans rights and making sure trans people get support they need to transition etc and be accepted, but I don't agree with the trans lobby of mainly male to female trans women claiming that because they call themselves a woman and Wear dresses, they are a woman and so they should be able to be in women's spaces, gains women's scholarships and take places in women's sports.
My view can't be summed up in a daft little badge and I would take issue with being told I'm a bigot because I won't be forced to wear a symbol that oversimplifies a number of issues in order to tick and equalities box