OH GOD So THAT's the show i keep forgetting the name, it's Super Drags.
https://en.wikipedia.org/wiki/Super_Drags
This is a brazilian show i heard about but never watched, i'll try my best to clear some doubts here.
1-It's an comedy show for adults, it's offensive and it knows. The character in the trailer even says something like "Viaaaaado. Vai ter desenho de viado na netflix SIM!" ("Faaaaaaggot. Yes netflix WILL have a faggot cartoon!").
2-I dont think this was made for trans pandering AT ALL. Drag culture is a lot more accepted here than outside, it's very common in comedy and we have a massively popular singer (Pablo Vittar) who is drag queen (but not fully accepted of course). The main villain is also a drag, doesnt seem to have any kind of "trans agenda".
3-The dub sounds hilarious lol. One of the cast is voiced by Pablo Vittar and another by (i kid you not) the voice of SuperMan, making it even more surreal. The sheer sight of adult men voicing ugly deformed magical girls and calling each other with "yo faggot" is amazing. But the humor is still full of brasileirism so it doesn't translate well.