Yes, you know the key difference between drag and comedic routines that derive their humor from men dressing as women is that drag isn’t funny.
It’s often dramatic and sometimes slyly clever, but it’s never (well, I guess one should never say never, but you know what I mean.) a broad misogynistic joke.
Comedy sketches with men dressed as women enjoyed a peak of popularity in the mid 20th century – when audiences would begin to chuckle and laugh at just the sight of Johnny Carson or Don Knotts in a dress. The humor derived not from the cleverness of their routines, but from the mere fact that they were men daring to dress as women.
As for the routines themselves, they often involved making fun of women, highlighting what men saw as women’s character flaws.
These “burlesque” acts were at their core deeply misogynistic. They would not have been funny if people supposed men and women were equal.
I’m surprised that acts like the gymnastic cross-dressing routine you describe still exist today. We should be past it, recognizing it’s not okay to laugh at people for mixing up traditional gender roles.