I used to hear feminists and lesbians make this argument, back in the 1970s and 1980s. I even made the mistake of bringing my lesbian cousin (who loves many drag queens) and her then-new girlfriend to one of Lypsinka's early shows.
I mistakenly believed they would see Lypsinka's work as a critique of the male-dominated world and the roles women were forced into: housewife/mother, whore/innocent, bitch/good girl, crazy woman.
My cousin enjoyed Lypsinka's artistry, but her girlfriend got more and more furious as the show went on, and was sputtering mad at the end.
We ended up having an interesting talk about the idea, and decades later, my cousin and her girlfriend are now wife and wife.
The subject seemed to have gone away for a while, but the recent dust-up with the word tranny brought it back. And Drag Race does sometimes seem to have untalented queens who are simply trading on negative stereotypes of women. But it also has artists like Bianca Del Rio, who are too talented and original to be tarred with that old brush.
But any negative stereotyping done by drag queens is completely overwhelmed by the negative stereotyping done by the biological women on the Real Housewives series. They're far more damaging, given that they are devoid of talent, intelligence, creativity or empathy for other human beings.