I know what you mean.
There is a fairly large grey area where CDs and drag queens overlap. Some drag queens make it a point to be as outrageous as possible.
This is an opportunity to educate the public. If you are a CD and you go out, and someone asks if you are a drag queen, you can gently inform them of the difference.
I find drag queens a riot. I saw many of them when I worked in Manhattan. So theatrical! They live in a whole other world and generally seem to be quite happy. I can't say I completely understand them, but they certainly are brave!
There's one who comes into our store once in awhile. He wears a tutu and pushes his little dog in a stroller. He also wears those platform shoes you could put goldfish in, if you wanted to. He certainly rocks our world on those days. He's anything BUT boring.
I think my point is this: They are here to stay. They are "out there" in greater numbers than CDs, at least for now. Live and let live, I say.
I do agree with you about CDs trying to look like sexpot teenagers when they're middle-aged. I understand WHY, but it isn't a great look, and it isn't anywhere near convincing if that's what you're after.
So... I guess it all boils down to what your objective is. Convincing or outrageous?