After a lot of analysis and comparison, here is what I came to on the issue of "false hope" with this app... For the most part all it does is add the hair, makeup, and eyebrows, then slightly contours the jaw edge. I took another picture of myself and did some half-assed photoshopping, and came out with something not that far off though nowhere near as polished (modified eyebrows, "drew on" makeup, edited out beard stubble, added hair, etc.). In other words, at the core it is still your face.
The biggest issue that may be false hope is probably the edging of the face and jaw line, though I do believe it is feasible if you take into account FFS or a particularly good response to hormones. I guess you could consider the filter as applying some of the common HRT or surgery effects. I also base this off that in playing around with the app with other people, not revealing why I have it of course, using the male and female filters would readily turn people into flawless versions of relatives. For example my little sister with the male filter just looks identical to my father when he was around 20. When I showed my step-mother her picture with the male filter, she was confused because she thought I had a picture of her brother on my phone for some reason. So it isn't doing something that turns you into an entirely different person and does actually manage to retain some core personal genetic traits, which is a really good sign when the goal is mostly to express those genetic traits differently.
This all comes with a huge caveat however. A "glamor" shot at a good angle can be a poor representation of anyone, even not dealing with the transgender issue (ie: the basis of pretty much all modeling and Hollywood camera and lighting trickery). In other words, it is impossible to say how profiles, motion, extra features not readily visible in the photo, and so forth will play into the final presentation. (Not to mention face is just one part of the equation to begin with, though certainly an important one!)
