Men who take on a femme identity or appearance are not oppressed in any coherent sense. They are also never treated like women; they can't be, because you need a female body for that, and women's oppression is based on what resources men can extract from our female bodies. Oppression is always about resource extraction - there are no resources that men want to extract from femme-presenting men. They may be discriminated against, as gay men also sometimes are, but as Guardian and Hairy pointed out, this is homophobia, not misogyny.
Even in countries where femme-presenting men are severely discriminated against, such as in Pakistan, where the 'third gender' Hijira are forced to live on the margins of society and have to rely on prostitution to survive, 'third gender' men never experience anything approaching the oppression of women and girls in those countries, which includes being denied education, being sold into marriage as children, being considered the property of one's husband after marriage, rape, beatings, mutilation, acid attacks, being burned alive and being killed at birth or in infancy for being girls.
Although they are considered very lowly compared to other men, Hijira have more freedom and autonomy than most women in Pakistan, which includes the freedom to opt out of their sex class in the first place. Note that almost all 'third genders' - historically and across the world today - are for gay men: women and girls cannot escape the things that are done to them for being female by declaring themselves a third gender.
If you look at the West, where trans-identified men are mostly heterosexual and not in the marginal position of homosexual 'third gender' men, I think the argument that TIMs are oppressed becomes even more absurd. No doubt they experience discrimination and sometimes even violence for flouting masculine appearance norms. But they are also coddled and fawned over to a truly incredible degree. They regularly get away with behaviour that non-trans-identified men would be censured or fired for. Their wives and kids are expected to reorient not only their lives but all their memories and perceptions around their husband/dad's 'brave gender journey', and suck up abusive and narcissistic behaviour. TIMs are put on every women's power list, promoted above actual women no matter how non-existent their achievements (hello Liam Madigan), declared brave and stunning, simply because they are men who have dared to put on makeup. No woman gets treated like this, ever.
It really says something about how people view women, that they think men are heroic for taking on our appearance norms. That's why some people have such a hard time grasping the dangers of self ID. When they say that no man would 'go through all that' just to get on an election short list, I think they aren't thinking of medical transition specifically. They are thinking of how degrading it is for a man to assume a 'woman' position. That what 'go through all that' means. Look, a member of the fully human sex caste has degraded himself by mimicking the sub-humans! What an act of courage, surely no man in his right mind would do that without a deep and meaningful reason! Praise him - I mean 'her'!