[quote TreXX]@Fetarabbit
Ok maybe 'worst thing they can think of' is OTT but the point was they are mocking eachother being dressed as women - why do you think they see that as a bad thing?[/quote]
It's subverting and playing with gender. Proper po-mo!
It's poking fun at masculinity, which is more rigorously policed than femininity.
I don't see this as necessarily denigrating or mocking women, actually. Usually it's men who are fairly secure in their own sex and sexuality who are happy to play with these tropes. Of course some of them may be misogynists - it's not a rare thing to be, unfortunately.
I think my issue with drag is 1. some of the offensive names and 2. some of the offensive chat/jokes. Many/most drag doesn't bother me. As someone said above, wear what you like, so long as you don't try and claim womanhood/use women's spaces, etc.