Depends on the show and the artist.
What I don't like is the drag queen sings in playback type of performance as it's boring unless they do very funny things there.
A drag queen doing just a typical revue thing, but well done, is okay but gets boring over time.
I like it when they do funny sketches, not making fun of women, but of gender stereotypes or of anything unrelated to gender stuff.
I also like it when they parodize drag queens; Divine's styling is an example of this.
What often works very well is when the Drag Queen is just the moderator of a show with various artists and bands.
I've never seen any make fun of transsexuals, if they did, I'd hate it.
I've almost never seen any Drag Kings and those I've seen were extremely boring apart from the Drag King show excerpt in "Venus Boyz".
The problem is, most Drag Queen shows I've ever seen were just boring playback singing.
Mary & Gordy are (were?) two very good and hilarious Drag Queen artists in Germany in the 80ies, one played diva roles and the other one funny roles, they were often on TV. When I watched this, I often thought I'd like to do that too when I'm adult. But my parents were kinda confused when I said that.